Handing Keys to Bank
Anyone starting to hear or see borrowers handing the keys to the bank yet? Or anyone starting to get calls from banks asking to buy their RE notes? I think this will be the biggest opportunity over the next 12 months in RE.
https://www.ft.com/content/60a67e2b-8f2c-4ca5-af47-efba143b8236
Yes.. there's been plenty of high profile deals and even more defaults that are teetering on lender action. But for all the failures there are even more GPs that are waiting to pounce on opportunities. Asset pricing hasn't adjusted nearly enough yet for repositioning / redevelopment plays to make sense.
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