Ten days ago, 5/21/20, the Real Deal, New York Real Estate News, reported that Goldman Sachs closed a $2.75 billion fund to target the secondary market. This article will be more of a quick breakdown about the Funds in question, as opposed to what and how I typically convey critical information to sponsors, borrowers, occupiers and small business owners who follow my blog.
The fund name is Vintage Real Estate Partners II. The fund exceeded Goldman’s Sachs target by $1.50 billion. The retail and hotel sector have been impacted mostly due to Covid-19 and many of these owners with retail tenant have been lagging behind to meet debt service requirements.
Many conventional and non-traditional banks are holding off making new loans in this environment, unless for repeat clients, as su...Read More