American Ventures managing partner, Philip Blumberg, is raising $1 billion to buy distressed commercial real estate from struggling office landlords. American Ventures joins a growing number of investors anticipating a deal rush due to the havoc wrought by the pandemic.
Peter Grant reports that public-health experts estimate that return to work plans cannot be implemented until approximately 65% of the population is immune to Covid-19. As of November, 8.2% of commercial real estate loans securitized were delinquent, which is a 2.3% increase from the same period in prior year.
American Ventures Partners is seeking to purchase properties at deeply discounted prices, primarily in Sunbelt states.
Read The Full Article at The Wall Street Journal Commercial Real Estate Weekly Here: