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Underwriting Adjusts As Pandemic Continues
Last August a multifamily property went on the market in Los Angeles with cash-flow issues that would have made an underwriter pause even without a pandemic underway.
There were five vacancies and seven additional tenants weren't paying rent due to the pandemic. Income in the property was completely off, according to Mik Hanassab, a senior director at James Capital Advisors, who was marketing the building. The building sold in an off-market trade to a buyer that was not concerned about the loss of income and who was able to secure a 70% loan-to-value. If it had gone to market, it could have traded for about $500,000 more, Hanassab speculated.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
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