Goldman Sachs Asset Management has raised a big pool of equity to buy up stakes in existing real estate funds.
The firm has raised $2.75B for Vintage Real Estate Partners II, its second dedicated “secondaries” fund, Private Equity Real Estate reported.
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In the first month after the coronavirus ground the U.S. economy to a halt, the opportunity zone marketplace had slowed along with the rest of the commercial real estate industry.
The opportunity zones program has been described by the Trump administration as a tool to inject hundreds of billions of dollars into underserved communities. In its first two years, the program had yet to live up to the buzz it generated throughout the industry.
But over the past month, opportunity zone investors have been some of the most active players in the real estate market, closing deals and starting new projects as most traditional sources of capital stay on the sidelines.
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(Bloomberg)—The world’s biggest real estate investors are sitting on piles of cash, preparing for once-in-a-lifetime opportunities created by the pandemic.
With economies around the world sputtering, commercial real estate prices are expected to come down. How much they’ll fall is the key question.
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The disruption from the pandemic and the subsequent liquidity pullback have spelled the end for a number of planned acquisitions.
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Myriad publications have already pronounced office space a trend of the past as a result of the coronavirus pandemic. The most publicized reasons focus on a postapocalyptic world where people do not want to be around people: Office buildings contain UV lights to disinfect all areas at night, and employees are placed into rooms with glass dividers and do not even think about an office social gathering.
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The coronavirus pandemic has left hundreds of U.S. manufacturers examining how to bring at least some of their operations and real estate footprints home.
Nearly two-thirds of North American manufacturers say they are likely to bring production and sourcing back to the continent, a new survey by industrial data and tech company Thomas shows. The company surveyed over 1,000 of the continent's manufacturing and industrial suppliers, with the help of business-to-business data gathered on Thomasnet.com.
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Even as COVID-19 continues to wreak havoc with the global economy—putting the majority of commercial real estate investment activity on pause—entities are lining up gobs of capital to pounce on distressed real estate opportunities expected to arise in the coming months.
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General Services Administration Public Buildings Service Commissioner Dan Mathews said he expects the crisis will lead to new requirements directly related to the coronavirus, with public health agencies expanding, plus additional projects aimed at stimulating the economy.
"I would expect, given the amount of money appropriated to a variety of agencies working on long-term solutions to the virus, that will translate into a real estate requirement," Mathews said Thursday on a Bisnow webinar. "I do think there will be additional requirements for us to secure in the future."
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(Bloomberg)—JPMorgan Chase & Co.’s asset management arm increased its bet on single-family rental homes, more than doubling the size of a joint venture with landlord American Homes 4 Rent.
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