203. Comps Comps Comps, Sales Comps Dominate News; Delinquencies Rise
The TreppWire Podcast: A Commercial Real Estate Show
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The Doom and Gloom for Office
I think these stories you just ran through, Manus, these are probably underreported relative to the narrative. In almost every single one of these examples, you're looking at a sales price that's 50% or so of what they recently were either refinanced at or purchased for. The hope is that at these purchase prices, the new operators are able to come in and get the occupancies. These are capitulation level prices. And we got there very quickly. We've often paralleled the office future to the shopping mall past. The shopping mall past took a really long time to clear and find a bottom. God help us if these office prices are not close to the bottom Right.
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