Lockdown Hits UK Commercial Real Estate, Retail Landlords & Their Investors: Most Property Mutual Funds Suddenly “Gated” by Nick Corbishley • Apr 5, 2020 • 101 Comments Never before have so many property funds shut the doors on so many property investors.
A Word About Hong Kong’s Retail Sales Collapse: It’s a Mess by Nick Corbishley • Apr 1, 2020 • 57 Comments Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014.
Post-Lockdown New Normal: Many Brick & Mortar Stores Will Not Reopen, CMBS will Default, Mess to Ensue by Wolf Richter • Mar 30, 2020 • 245 Comments Neither the Fed nor the Treasury can bail out brick-and-mortar retailers.
Four Mortgage REITs Collapse After Chaos Hit Markets for Residential & Commercial Mortgage-Backed Securities by Wolf Richter • Mar 24, 2020 • 187 Comments In good Financial Crisis manner, stuff blows up despite the Fed’s effort to stem the chaos. Now hoping for taxpayer bailouts.
Coronavirus May Deliver Coup de Grace to Overrated Commercial Mortgage-Backed Securities (CMBS) by Marc Joffe • Mar 24, 2020 • 72 Comments S&P made up for its tardiness by downgrading the CMBS in one fell swoop by 9 notches from AAA to BBB-, just one notch above junk.
After Epic “Run on the Funds,” 10 More Real Estate Mutual Funds Shuttered as COVID-19 Batters UK Property Values by Nick Corbishley • Mar 20, 2020 • 83 Comments Triggered by the belated realization of the risks in mutual funds that offer daily liquidity but invest in illiquid assets.
How a Landlord of Neighborhood Malls Deals with the Lockdown Crisis his Tenants Face by Wolf Richter • Mar 19, 2020 • 84 Comments “Our Retail Marshall Plan.”
What Sequoia Capital’s “Black Swan” Memo Means for Unicorn-Hotspots Like San Francisco, Silicon Valley & Others by Wolf Richter • Mar 6, 2020 • 183 Comments “False optimism can easily lead you astray and prevent you from making contingency plans or taking bold action.”
Hong Kong’s Real Estate – Housing, Office & Retail Properties – Face “Tsunami-Like Shocks” by Nick Corbishley • Feb 24, 2020 • 61 Comments At first the protests and now the coronavirus collide with the World’s Most Expensive Property Market.
WeWork Debris Hits Bystanders: Two More Real-Estate Mutual Funds “Gated,” This Time in Ireland. Fitch Warns of Contagion by Nick Corbishley • Feb 7, 2020 • 68 Comments “We regard liquidity mismatches as a major structural flaw.”
