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Failed CRE deals rose sixfold in March, according to Real Capital Analytics. Separately, an Institutional Property Advisors survey found that 64% of multifamily developers would only accept a discounted pre-sale price of less than 5% from their estimated valuation.
Mag Capital Partners has acquired a pie manufacturing facility in Rochester, New York. The transaction includes a 20-year leaseback of the 42,700-square-foot facility located at 155 Balta Dr. to current tenant SatisPie.
The principals at George Smith Partners knew that there would be very few deals at that juncture, so it was critical to their survival to be positioned as one the few capital market advisers that were still doing deals.
During the slowdown, restaurants need to be focused on cash preservation and adapting to omnichannel strategies which will be vital to ensuring businesses properly allocate resources.