Neisen Kasdin, Miami Office Managing Partner, weighed in on the distressed real estate market in South Florida in an interview with the South Florida Business Journal. The COVID-19 pandemic is expected to lower pieces of many properties in South Florida, creating opportunities for real estate investors, according to the publication. Kasdin commented that he expects distressed markets will start coming to market in late 2020 and early 2021.
“Some owners are strong and will have the wherewithal to stay the course. But others are highly leveraged and their values are underwater, so they will probably let go of the properties. A lot of savvy real estate investors are putting together distressed real estate funds now,” Kasdin said.