Real Estate Restructuring?
I work in CRE and was speaking to a friend of mine who told me he recently obtained a position in the real estate restructuring team of Duff & Phelps. Firstly, how big is restructuring within the real estate space? I obviously know it has a large place in the banking world, though this is the first I have heard of it with a real estate specific focus.
Secondly, do you guys see this as a promising area for the future? Given the effect COVID-19 is having on the economy, I can't help to think of the workload in addition to the good bonuses that will be being paid to those in restructuring, seeing as I imagine lots of firms will be defaulting on secured loans backed by property.