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疫情迫使員工在家工作，導致去年辦公室價值下跌，陷入困境的投資者把美國房地產業視爲一個收穫大量優惠的烏托邦。
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.
股權投資公司將這個行業作爲瞄準目標，根據Preqin編制的數據，將64％的乾粉用於投資北美的辦公樓。彭博社報道。
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：商業房地產市場的最糟情況可能已經過去，但“要扭轉形勢可能需要更長時間。”
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.
根據抵押銀行家協會的數據，今年將有將近$1萬億的商業地產債務到期，在面臨租用率前所未有的下降和日益上升的違約率的借款人處購買折扣空置辦公室的資產買家,隨時準備好以極高的折扣價位購買銀行拖欠的資產。
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.
由於借款成本上漲和價值下跌，商業地產貸款的債務方不斷逾期，這爲在美國尋找商業地產折扣提供了機會。安博資產管理公司估計，今年面臨到期的貸款額和新授信可用額之間存在近1500億美元的差距。彭博社報道。
"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."
“我們可能處於過去40年中最重要的房地產困境投資週期的邊緣，”奧克樹全球房地產主管約翰·布雷迪最近在一份評論中寫道。“商業地產幾乎是被衆人拋棄的資產類別，因此我們相信，幾乎沒有比這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.
週三，商業地產公司和ETF呈上升趨勢。
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.
週三，吉勞埃地產（NYSE：KRC）上漲0.72％，收於32.30美元，美國電塔公司（NYSE：AMT）上漲0.41％，收於196.77美元，安博（NYSE：PLD）大漲1.83％，收於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.
景順標普500等權重房地產ETF（NYSE：EWRE）上漲0.78％，至116.54美元；iShares Cohen & Steers REIT ETF（BATS：ICF）小幅上漲0.72％，至57.68美元；iShares Core U.S. REIT ETF（NYSE：USRT）上漲0.82％，至54.02美元。
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