Thursday, September 10th, 2020
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While many lenders have soured on the retail and hospitality space, Mark Fogel isn’t among that group.
Fogel, the CEO of ACRES Capital and the President and CEO at Exantas Capital Corp., thinks strong sponsors can turn some of these seemingly hopeless situations into long-term winners.
Success, as it does in many cases with real estate, depends on what the buyer is paying. If they can get a deal, making a loan on a distressed property looks a lot better for Fogel. “It can be as simple as somebody is buying an office building at a very low basis because it’s vacant,” Fogel says.
In that situation, Fogel might be betting that the sponsor can effectively reposition the asset by turning a single-tenant office building and into a multi-tenant property.
“You’re probably getting it at 50 percent of what the basis had been previously,” Fogel says. “So you’re at a
While kicking back in a beach house might sound dreamy, I have to ask: Why is beach house decor so bad? Here are the worst designs I’ve seen.
Photo: Luis Diaz Devesa / Getty Images
While kicking back in a beach house might sound dreamy right about now, I have to ask: Why is beach house decor so bad?
As someone who’s rented beach houses on sandy shores from New York’s Fire Island to the Maine coast, I can conclude that beach house owners tend to go overboard with beach-themed decor. We’re talking seashells not only at the seashore, but everywhere in the home, fashioned into soap dishes, wind chimes, “seashell