Selection of Recent News Highlights
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WeWork, Shortly After Warning About its Future, Seeks to Renegotiate Nearly All of its Leases
WeWork said Wednesday it will attempt to renegotiate nearly all of its leases and may exit some properties, an announcement coming just weeks after the workspace-sharing company sounded the alarm over its ability to remain in business.
The Real Deal
Banks Cutting Losses on Distressed Office Loans
Banks that long delayed writing down distressed property debt, favoring an extend-and-pretend approach in the hopes of a turnaround by the struggling asset, are abandoning that strategy, preferring to rip off the Band-Aid instead.
Channel News Asia
Any failure to increase the debt ceiling would plunge the global economy into recession: Analyst
CNA's Henry Yin discusses the global implications of the US debt ceiling crisis with NYU Stern School of Business Professor Sam Chandan. He believes that a compromise between the Democrats and Republicans would be the only solution to the ongoing crisis and that any kind of default would result in a significant erosion of credibility for the world's number one economy.
Wall Street Journal
Your Money Briefing Podcast: How to Avoid the Most Common Mistakes Made by Homebuyers
From not having your finances in order to rushing through the inspection process, common mistakes made by homebuyers can derail the path to owning your dream home. On the fourth installment of WSJ’s special series “Under Contract: Your Guide to Home Buying,” Sam Chandan of New York University’s Chen Institute for Real Estate Finance joins host J.R. Whalen to discuss.
Why the Spotlight on First Republic? Bank’s Exposure to Tech, CRE Causes Concern
Following the collapse of two regional banks — including Signature Bank, one of New York City’s most active commercial real estate lenders — the market is abuzz with speculation around the health of other financiers, and First Republic Bank is top of mind.
Channel News Asia
Very real danger that the markets are misreading the messaging from the Fed: Economist
The Federal Reserve announced its smallest interest rate hike in a year, but stressed that the battle against inflation is not over. CNA’s Avril Hong spoke to Sam Chandan, Professor of Finance at the NYU Stern School of Business, to get his take on the US central bank's policy path.
Fed Closes 2022 With Seventh Rate Hike Leaving CRE in Limbo for 2023
Commercial real estate financiers and borrowers alike remain in flux after the Federal Reserve closed its 2022 calendar with the year’s seventh interest rate hike, and no clear sign of the hikes letting up in early 2023.
NYU Stern Establishes Chao-Hon Chen Institute for Global Real Estate Finance
New York University’s Stern School of Business has formed a new real estate finance institute — the Chao-Hon Chen Institute for Global Real Estate Finance — with a $20 million gift from alumnus and Stern Executive Board member Charles C.Y. Chen.
Real Estate Pride Council Launch Charts New Opportunities for LGBTQ in CRE
Sam Chandan launched the Real Estate Pride Council with the goal of enhancing networking opportunities for LGBTQ individuals in the commercial real estate profession, and he hopes the group can foster positive change for the industry.
Fed’s Biggest Interest Rate Hike in Decades Removes Some Uncertainty Facing CRE
The Federal Reserve’s historic move raising its benchmark interest rate by 75 basis points to combat inflationary pressures provides a necessary level of certainty to a commercial real estate industry that has been battling volatile market conditions in 2022.