In The News

Carol Faber, Distressed Property Practice Co-Chair, shared observations on the nation’s distressed commercial real estate property due to the COVID-19 pandemic with Mortgage Professional America. According to the publication, U.S. commercial real estate transaction activity dropped 68 percent in transaction volume during the second quarter of 2020, the lowest level of a second quarter since the global financial crisis. 

“There’s a lot of interest in distressed properties and loans and while they do exist, there's still a real disconnect between buyers and sellers on what the price should be for those,” said Faber. “Owners still have a perception that their property is worth more, while opportunistic buyers are just looking for a great deal and aren’t inclined to buy anything until they feel the market has reached that point.” 

She added, “We’re at a tipping point. There’s no way to quantify it yet, but there will be a lot of distressed loans and properties coming up. Certain industries will be more challenged, hospitality and retail mainly, and that's where there will probably be the most opportunities.” 

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