The city of LA is now saying that it's expecting to make a lot less from the transfer taxes also known as Measure ULA. The measure is now projected to reel in up to $672 million in revenues during its first year. But when the measure was actually presented to voters in November, proponents of the taxes said they would add more than $900 million a year.
As distress descends on commercial real estate, Deconstruct analyzes how past financial crises can inform how borrowers, banks and policy makers handle this down cycle. Guests include: Bob Knakal, JLL Senior Managing Director, Head of New York Private Capital Group; and Sam Chandan, Professor of Finance and Director of the Chao-Hon Chen Institute for Global Real Estate Finance at the New York University Stern School of Business.