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aerial view of Lower Manhattan. New York
Michael Cale, co-head of debt investment at Allianz Real Estate of America, said the firm is also selectively originating retail loans.
As a return to normal life looms, lenders dig into financing a formerly great asset class.
The firm deployed more than $1.45 billion in 2021 and aims to continue this momentum.
The former CEO of VEREIT is concerned about the impact of stagnant GDP growth on the US commercial real estate market.
The firm will retain servicing rights on the financing, which is part of a $108m financing package.
Even with the headline risk around the retail sector, there are selective opportunities for investment and development.
The city's rapidly expanding suburbs merit new development after a banner year of activity, the company believes.
Is now the time for private real estate investors to generate returns in retail property and, if so, how should they go about it?
Consultant RCLCO told the $280bn pension it should consider increasing leverage, value-add strategies and construction in anticipation of a market reset.
Retail icons are being toppled, spelling major trouble for US shopping malls as a cascade of defaults looms.

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