"Most buildings are worth less now than a year ago, if only by virtue of the increase in cap rates and interest rates," said Michael Cohen of Williams Equities. Moreover, trillions of dollars in debt will soon come due, warned Rob Gilman, CPA and co-leader of Anchin's real estate group.
"While many owners 'are tied to lower values and high loans,' according to Andrew Scandalios of JLL, opportunities abound for buyers ready, able or willing to transact. James Nelson of Avison Young noted that those tend to be foreign buyers and sellers."
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