Multifamily

"Currently, our team is working from home and not traveling, but with dry powder in our fund, looking opportunistically at new acquisitions as more information is known and conditions begin to stabilize."

"One of my contacts at Atlanta Housing Authority tells me that recently a complex of 50 units opened up for the voucher program, and for those 50 units, they had 30,000 applicants."

Under the scenario Trepp used, the cumulative default rate across commercial mortgages overall will rise to 8%, up significantly from the current 0.4% default rate.

Katz and Shainker also denied Mack-Cali's earlier statement that Bow Street was seeking a "fire sale" of the company after it called for the removal of Mack-Cali CEO Michael DeMarco in a letter to shareholders last month.

The value-add multifamily fund increased from $300 million to $500 million after high interest from investors.

The city ranks in the top 11% for overleverage mortgage debt with an overleveraged score in the 89th percentile.

The pandemic may not meet the force majeure clause in some contractual obligations.

"Our lender performed and met their commitments, and we were able to complete due diligence."