Any layman with a peripheral understanding of the real estate market can tell you that there’s money to be lent and there are properties to buy. Somewhere. Banks, and in some instances special servicers, have them both in spades, which is currently of little help to investors gnawing at their leashes, ready to make some deals and turn a profit. In the midst of this stall, Wall Street’s high-risk/high-reward investment tools see an opening to grab some loot.
“Hedge funds are the asset-backed lenders of yester-year,” Mission Capital Advisors’ David Tobin remarks.