The meeting comes as transaction activity has started to tick up after a slow 2023.
The pending sale of a defaulted note on 1740 Broadway in New York and the foreclosure sale for a San Francisco multifamily portfolio could be the start of a broader shakeout.
The Federal Reserve has not changed the target rate, which has stood at a level of 5.25-5.5 percent, since July.
Blackstone’s president says commercial real estate values are bottoming out and expects an uptick in realizations in H2.
Indraneel Karlekar returns to the New York manager, where he previously headed research during his days with affiliate ING.
Lenders zero in on next week’s Federal Reserve meeting; Brookfield becomes San Francisco’s largest multifamily owner via foreclosure auction on Veritas apartment portfolio; Greystar joins a wave of private equity interest in growing real estate debt; and more in today’s Term Sheet, exclusively for our valued subscribers.
The local investor has been a long-time debt investor alongside its equity portfolio.
Taconic Development Advisors is also starting to see more opportunities to work with lenders and investors seeking advisory services early on when looking at troubled loans.
Michael Berman will shift from chief executive to executive adviser, as M&T taps Michael Edelman as his successor.
The transaction makes Brookfield the largest multifamily owner in San Francisco.