Blackstone "has experience buying debt and the flexibility as to how they capitalize, whether they take control of the asset or flip it," said Ben Thypin, senior market analyst at real estate tracking firm Real Capital Analytics. "The bottom line is the note sale at this price reflects the high level of demand for Class A office [space]."
Read More: http://therealdeal.com/newyork/articles/blackstone-wins-note-on-gluck-s-1140-sixth
The extra mile: Despite some black eyes, upstart Square Mile Capital becomes a big player with a take-no-prisoners approach to delinquent borrowers
Indeed, Solomon, who cofounded Square Mile with Jeff Citrin in 2006, started out in the business during the downturn of the early 1990s, and learned a number of hard lessons about how to structure deals in a difficult economic environment.
"I think they're pretty savvy in placing themselves in the right part of the capital stack in deals they think are attractive," said Ben Thypin, senior analyst at Real Capital Analytics. "They want to make sure in the event there is a collapse they are not the ones to be completely wiped out."
Read More: http://therealdeal.com/newyork/articles/the-extra-mile/comments
Experts agree that going back to the basics -- which for the firm is office buildings, not the multifamily world -- is serving Tishman Speyer well.
"They've righted their ship to concentrate on what they do best, which is the office sector," said Ben Thypin, director of market analysis at Real Capital Analytics in Manhattan. "That makes sense. It reflects how forgiving the real estate market can be."
Read More: http://therealdeal.com/newyork/articles/tishman-speyer-regains-footing
Ben Carlos Thypin
I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.
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