If you're an investor expecting to buy troubled assets through servicing, you're probably going to have to wait a while, according to Michael T. Fay, principal, managing director and global head of Avison Young's asset resolution team.
"The special servicers are going to take a while," Fay says. "It's going to take a least two years to work through that. The special servicers today, in my opinion, are trying to flatten their own curve."
Right now, servicers are looking out 12 to 18 months as they try to figure out a path forward, according to Fay.
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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.
