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Since 2008, the number of private real estate-focused debt funds to close has nearly doubled, and borrowers find them to be an attractive alternative to banks.
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Westbrook Partners sold the building after buying it in 2017 for $72M and repositioning the asset.
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Private equity has been conspicuous by its absence in distressed retail real estate
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The sharp economic decline resulting from the spread of the coronavirus may be a greater opportunity to buy distressed assets than even the Great Recession.
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The owners of the historic CBOT building just joined the large group of CBD property owners that opted to refinance their buildings instead of selling.
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The sheer amount of capital raised to take advantage of distressed assets is making the market too frothy to be profitable.
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Adhan Group is buying a regional mall at a premium to book value.
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Developer R2 has been hired by new owner Apollo Capital Management to seek new office tenants and explore other uses for the iconic building.
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KKR, Carlyle and Blackstone are raising money for Europe-specific real estate funds.
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