"we crave contact, but not surveillance"
"It may be time to unroll the yoga mat or dust off the drum set in the garage, instead of spending 225 hours, or 9 full days, a year commuting." -post corona #WFH#office#CMBS@profgalloway
Blackstone’s Gray Expects ‘New Cycle’ for Real Estate Market
Firm deployed almost $15 billion in first half on real estate
Profit available to shareholders increased 3% from a year ago By Dawn Lim
Gray / $BX bullish with future rate cuts on the horizon. Originally hoped for 6
Blackstone Mortgage REIT Cuts Dividend as Distress Increases
BXMT to repurchase $150 million shares to blunt dividend news
Muddy Waters’ Carson Block shorted the trust in December
Billionaires Buy Out 70% of Downtown Offices and Remake Detroit
Dan Gilbert, the Fords and Ilitches have taken over much of the city, filling buildings with workers and luring young residents back.
By David Welch
Brookfield’s Defaulted LA Office Tower Selling at Major Discount
▪South Korean investment firm Consus to buy 777 S. Figueroa St.
▪Purchase price of $145 million is 50% below building’s debt
#office@natalexisw@johngitt@business
CMBS Credit Rating Downgrades Are Ramping Up: Structured Weekly
Pace of more downgrades depends on loan modifications
This downgrade wave isn’t as severe as the Great Recession
By Scott Carpenter