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The market for distressed assets is not living up to initial expectations. At the beginning of the pandemic, many expected a wave of opportunities deals to come to the market—much like following the 2008 Financial Crisis—but that has yet to happen. While some still expect to see more distress at the end of the year, the reality will likely be a shallow pool of distressed deals.

“I think that we thought we would see something more cataclysmic than we have in certain respects,” Manny Grillo, a restructuring partner at Baker Botts, tells GlobeSt.com. “That doesn’t mean that there haven’t been a number of properties that haven’t needed to be restructured, but a lot of what has occurred in the marketplace to this point has been the amend-and-extend variety rather than full-scale restructurings.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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