Even with new businesses signing leases, retail rents in Manhattan continued to fall in the first quarter, reports Cushman & Wakefield.
“Just because you’re not seeing bankruptcy filings doesn’t mean there isn’t distress,” says Mark Kronfeld, a managing director with BlackRock.
Debt-burdened Hospitality Investors Trust Inc., which owns about 100 hotels, is in talks for a takeover by Brookfield Asset Management.
Distressed debt specialists—who at one point last year had $131 billion to spend—are rummaging for increasingly elusive bargains.
The Consumer Financial Protection Bureau estimates 1.7 million consumers will exit U.S. forbearance relief programs in September.
Roughly one in every 11 stores will close in the next year, according to an analysis by UBS.