The last several months have given rise to one of the most volatile periods in commercial real estate history: Pencils are down, construction starts have slowed to a drip, and what was once a gold rush of activity has morphed into a maelstrom of turmoil. One would expect these conditions to kill deals, and in some cases, they have. But in others, the opposite is true. While less optimistic than usual, many CRE professionals view the obstacles as opportunities and continue to push projects across the finish line. “Now is the time when the men get separated from the boys,” said Mike Bryant, a vice chairman and managing director of debt and structured finance at CBRE. “Experience is extremely important today because it’s not easy.” The following stories highlight the grit, determination and innovation that emerge during periods of economic hardship.Brokers, developers and lenders have forged unlikely partnerships, tapped into creative financing solutions and humbled themselves before societal stigmas to make deals work, even in the face of seemingly insurmountable odds.What all of these deals… Read the full story here. |