About a decade ago, the Israeli bond market emerged as an attractive source of capital for U.S. real estate companies at a time when traditional sources of financing proved somewhat scarce. For U.S. firms, a corporate bond issuance in Israel provided the ability to raise debt without saddling a building with a mortgage, and at favorable interest rates compared to those available closer to home. For Israeli institutions with limited domestic investment opportunities, the bonds
The post From slam dunk to junk: US developers face Israeli bond market reckoning appeared first on The Real Deal New York.
Signature Bank saw record earnings and deposit growth last quarter, but also some red flags. Loan modifications related to Covid-19 rose to 7.1 percent of its loan book, up from 6.6 percent in the fourth quarter, Crain’s New York reported. It’s a sign that the property lender’s borrowers are struggling as the pandemic continues. Signature held $3 billion of troublesome loans rated “special mention” or “substandard,” compared to $1 billion as of Sept. 30, the
The post Signs of success, trouble for property lender Signature Bank appeared first on The Real Deal New York.
Blackstone Group’s president and COO Jon Gray thinks higher inflation is on the way, and he thinks risky real estate investments could be the anecdote for investors. “What we’re trying to do is position ourselves for things that look and feel [the] least bond-like as much as possible,” Gray said Thursday during the investment giant’s first-quarter earnings call. Gray said safe but low-yielding investments, such as fully leased office properties, are less attractive in an
The post There’s “lots of runway in real estate”: Blackstone’s Jon Gray appeared first on The Real Deal New York.