Breakingviews - Real estate distress is tricky call
A boardroom is seen at the legal offices of the law firm Polsinelli in New York City, June 3, 2021. REUTERS/Andrew Kelly
NEW YORK, Oct 15 - There’s quite a lot of money flooding real estate, an industry with uncertain post-pandemic prospects . Barry Sternlicht’s Starwood Capital has raised awith $10 billion of cash. That enables Sternlicht to scoop up properties from hotels to offices. Some areas of the real estate market, like warehousing, are stronger than ever. That means distressed prices are likely to come from properties that have been dislocated as a result of the pandemic, like office buildings and apartment complexes in larger cities.
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