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These Sellers May Start Moving Distressed Assets Sooner Rather Than Later

While it may take a while for servicers and banks to sell, this one group may be ready to make a deal.

By Les Shaver | August 17, 2020 at 07:28 AM

A lot of funds are lining up to make a play for distressed assets. If they don’t have the patience to wait for things to cycle through banks and servicers, Mark Foster, attorney at Snell & Wilmer, says there is one group that may soon be ready to make a deal.

“I think the most opportunity [for purchases] is going to be with owners who are older, over 65, and who have done a good job of building a pretty good portfolio,” Foster says. “There is a crazy amount of uncertainty, and they may want out. So they’re willing to sell it [their asset] at a discount to get out.”

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