malach hamovess

Commercial Real Estate: Distressed Borrowers not Distressed Properties

distressed borrowers in the public market offer opportunities too; the unsecured bonds or notes of some 2nd tier reits are selling at highly distressed levels even as there is real equity value in their more junior preferred and common shares.

often the gains on these notes will be accelerated as these reits use available cash to repurchase notes at a discount (but at prices higher than on can purchase same).

it's not exciting, but it sometimes works.