The COVID-19 pandemic has pummeled commercial real estate. As rents and property values plunge and delinquencies rise, the sector faces a reckoning, especially in New York and other urban centers. Investors are concerned about steep losses. Starwood Capital's Barry Sternlicht, RXR Realty's Scott Rechler, and other industry leaders discuss the uncertain future of the commercial real estate market.
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Francisco Gimeno - BC Analyst Watching this video we can't but chuckle at the perplexity of many of those interviewed. Most are just in denial, just thinking on how much their real estate is going to lose and the disaster that is waiting ahead. They are not ready for the disruption. Real estate business needs to change with the times and, hard as it is, COVID19 has accelerated the crisis. They should now interview those with real ideas to create a new real estate paradigm for the 4th IR.