Distressed Investors See 'Exceptional Bargains' In Troubled US Commercial Real Estate Sector
Distressed Investors See 'Exceptional Bargains' In Troubled US Commercial Real Estate Sector
Distressed investors are viewing the U.S. commercial real estate industry as a utopia of great deals after the COVID-19 pandemic work-from-home shift caused office values to plummet last year.
COVID-19疫情迫使员工在家工作，导致去年办公室价值下跌，陷入困境的投资者把美国房地产业视为一个收获大量优惠的乌托邦。
Private equity firms are putting this sector in their crosshairs as they set aside 64% of dry powder earmarked for commercial property investment toward office buildings in North America, according to data compiled by Preqin, Bloomberg reported.
股权投资公司将这个行业作为瞄准目标，根据Preqin编制的数据，将64％的干粉用于投资北美的办公楼。彭博社报道。
Also Read: Goldman Sachs: The Worst For Commercial Real Estate Market May Be Over, But 'It Is Likely To Take Longer To Inflect Positive'
此外：高盛：商业房地产市场的最糟情况可能已经过去，但“要扭转形势可能需要更长时间。”
Almost $1 trillion of commercial real-estate debt will mature this year in the U.S., according to the Mortgage Bankers Association, and buyers of distressed assets are ready to buy office space at great discounts from borrowers facing rising defaults due to an unprecedented downturn in occupancy.
根据抵押银行家协会的数据，今年将有将近$1万亿的商业地产债务到期，在面临租用率前所未有的下降和日益上升的违约率的借款人处购买折扣空置办公室的资产买家,随时准备好以极高的折扣价位购买银行拖欠的资产。
The opportunity in the U.S. for commercial real estate bargains is driven by lenders pulling away from commercial real estate after borrowing costs rose and values plunged. Asset manager PGIM estimates a gap of almost $150 billion between the volume of loans coming due and new credit availability this year, Bloomberg reported.
由于借款成本上涨和价值下跌，商业地产贷款的债务方不断逾期，这为在美国寻找商业地产折扣提供了机会。安博资产管理公司估计，今年面临到期的贷款额和新授信可用额之间存在近1500亿美元的差距。彭博社报道。
"We could be on the precipice of one of the most significant real estate distressed investment cycles of the last 40 years," John Brady, global head of real estate at Oaktree, said in a recent note. "Few asset classes are as unloved as commercial real estate and thus we believe there are few better places to find exceptional bargains."
“我们可能处于过去40年中最重要的房地产困境投资周期的边缘，”奥克树全球房地产主管约翰·布雷迪最近在一份评论中写道。“商业地产几乎是被众人抛弃的资产类别，因此我们相信，几乎没有比这更好的地方可以找到例外的交易。”
Price Action: Commercial real-estate companies and exchange-traded funds trended upward on Wednesday.
周三，商业地产公司和ETF呈上升趋势。
Kilroy Realty Corp (NYSE:KRC) gained 0.72% to close at $32.30 on Wednesday, while American Tower Corp. (NYSE:AMT) picked up 0.41% to come in at $196.77 and Prologis Inc (NYSE:PLD) jumped 1.83% to $116.54.
周三，吉劳埃地产（NYSE：KRC）上涨0.72％，收于32.30美元，美国电塔公司（NYSE：AMT）上涨0.41％，收于196.77美元，安博（NYSE：PLD）大涨1.83％，收于116.54美元。
Invesco S&P 500 Equal Weight Real Estate ETF (NYSE:EWRE) picked up 0.78% to $116.54, while iShares Cohen & Steers REIT ETF (BATS:ICF) edged 0.72% to $57.68 and iShares Core U.S. REIT ETF (NYSE:USRT) gained 0.82% to $54.02.
景顺标普500等权重房地产ETF（NYSE：EWRE）上涨0.78％，至116.54美元；iShares Cohen & Steers REIT ETF（BATS：ICF）小幅上涨0.72％，至57.68美元；iShares Core U.S. REIT ETF（NYSE：USRT）上涨0.82％，至54.02美元。
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