The real estate industry, particularly in the urban office sector, is suffering systemic shocks that have left many property owners in financial distress. This is a rolling phenomenon, which will accelerate as loans move towards maturity and rent rolls suffer from expirations. Rescue capital has been stockpiled to recapitalize these entities, in lieu of surrender to lenders or discounted sale by existing ownership.
This discussion covers the following from the perspective of existing ownership and the rescue capital investor:
Pillsbury