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Havner cites GFC's "di minimus" impact on operator profits.
And Larry Silverstein thinks "there will be an opportunity for us to get distressed properties."
Volume is down by 20%, deals are smaller and there is a glut of assets on market.
What could go wrong with a smokin' sector that delivers 15% yields? Everything.
Our annual State of Industry panel pivots to cover all the angles.
Also, CRE prices are "facing some pain."
As lenders say no to refis, sale-leaseback is becoming "liquidity of choice" to jumpstart debt redo.
"Now our focus is on liquidity and not what this thing is worth but what you can sell it for in a reasonable amount of time."
"We have to think about how you can monetize space more effectively."
The moment that your interest goes over yield, it's going to make it extremely difficult to underwrite a deal.