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Goldman Raises $2.75B To Buy Stakes In Other Property Funds
The coronavirus could spur some investors in funds to sell at a discount.
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The coronavirus could spur some investors in funds to sell at a discount.
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A sale at £190M would represent a 25% profit in two years.
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New fund will look for returns of 12%-15%.
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Goldman is looking to lend into a market where there is less debt available.
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Goldman Sachs says this cycle is far different from any other inflationary period.
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The rate of office conversions is still less than 1% and is expected to remain so in the next four years.
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Jim Garman is the new global head of real estate for Goldman Sachs Asset Management.
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Goldman's new debt fund has surpassed the size of the previous iteration.
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Goldman Sachs-backed TopHat is to wind down its modular housing operations and has cited market conditions for the decision.
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This follows a default on payments to the CMBS loan originator early last year.
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