From the March issue: Like flavors of ice cream, every year real estate investors choose a preferred asset class, from multifamily residential to office buildings, anchor retail to hotels. The flavor for 2010 is obviously the distressed debt or note. Investors are coming from divergent backgrounds. But we all know that the cast of characters seeking distressed debt (or a mortgage that is more than 90 days past due) have one thing in common: They all want it at a bargain-basement price. A number of banks are now selling this distressed debt — just not at those deeply discounted prices. [more]
