While many lenders have soured on the retail and hospitality space, Mark Fogel isn't among that group.
Fogel, the CEO of ACRES Capital and the President and CEO at Exantas Capital Corp., thinks strong sponsors can turn some of these seemingly hopeless situations into long-term winners.
Success, as it does in many cases with real estate, depends on what the buyer is paying. If they can get a deal, making a loan on a distressed property looks a lot better for Fogel. "It can be as simple as somebody is buying an office building at a very low basis because it's vacant," Fogel says.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
