The TreppWire Podcast: A Commercial Real Estate Show 264. Firms Commit to Deploy Dry Powder, Banks Begin to Sell NPLs, Delinquency & SASB Update
Jun 28, 2024
This podcast dives into Blackstone's $65 billion dry powder commitment, malls transforming into minicities, banks selling NPLs, CRE loan performance data, office auctions, and SASB market updates, offering insights on real estate investments and market trends.
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Blackstone's Big Bet
- Blackstone plans to deploy $65 billion in dry powder, signaling confidence in the market.
- Their strategy involves focusing on niche markets and geographies with strong fundamentals.
Brookfield's Mall Mini-Cities
- Brookfield's plan to transform malls into mini-cities has faced challenges, with only two projects completed.
- Redevelopment is difficult and expensive, highlighting the hurdles of such large-scale projects.
West Coast Malls Outperform
- Super-regional malls on the West Coast are outperforming those on the East Coast in revenue and NOI.
- However, West Coast malls also face significantly higher expense growth.