In late April, Mark Foster, attorney at Snell & Wilmer in California, put together a couple of distressed opportunity funds for his clients. 

The clients wanted to get out in front of what they anticipated would be a lot of distress hitting the commercial real estate market. 

"Everybody has a lot of dry powder, so they wanted to get in position and start buying," Foster says. "So I did a couple of distressed opportunity funds initially in late April."

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to and Real Estate Forum.