Iron Hound Exec Breaks Down CMBS workouts; Where CLOs Stand; KKR’s Matt Salem on New Strategies

Iron Hound Exec Breaks Down CMBS workouts; Where CLOs Stand; KKR’s Matt Salem on New Strategies This week, we should prepare to release the hounds, as Christopher Herron of Iron Hound Management provides the inside scoop to Commercial Observer on what is occurring among CMBS delinquencies and restructurings. Not to be outdone, there’s also a deep dive into the ramifications of the pullback in CMBS and CLO issuance that has largely defined CRE capital markets in 2023. On the loan front, there were some big deals: notably, a $312 million refinancing for a mixed-use property in Philadelphia, and a $97 million construction loan for a logistics center in Phoenix. If that’s not enough, KKR’s Matt Salem shares his new strategies and tells us which asset classes he likes in an exclusive Q&A. Iron Hound Carves Niche in Navigating Lengthy CMBS Workout Process With delinquencies for CMBS loans on the rise in a higher interest rate environment, Iron Hound Management's Christopher Herron provides insight into the lengthy process involved with executing a CMBS restructuring. [Read More](   Top Deals Of The Week   - Rockwood Capital and Société Générale Provide[$312M Refinancing]( in Philadelphia - Customers Bank Makes $64M [Construction Loan]( for Bronx Mixed-Use Development - [TD Bank]( Provides $73M Construction Loan for Gowanus Residential Development - Värde Partners Lends $58M on [Houston Hotel]( Acquisition - Bridge Investment Group [Provides]( $33M Refi for Manhattan Mixed-Use Building - Bank OZK Provides $97M Loan for Massive [Phoenix]( Logistics Development - Driftwood Lands $47M to Refinance Canopy Hotel in [West Palm Beach](. - Maxim Capital Group Lends $26M on [Sarasota](, Fla., Condo Development   Q & A   KKR’s Matt Salem Talks New Strategies and Fresh Products in Tough CRE Market Matt Salem, a partner and head of real estate credit at KKR, is leading his troops through the current volatility with decades of industry experience in his back pocket. [Read More](   People Moves   Savills Names Dave Fletcher as New Executive Director in D.C. Dave Fletcher, a 28-year veteran of the real estate industry, has been named an executive director at Savills working out of Washington, D.C. [Read More](   Other Stories From This Week   Hits to CMBS and CLOs Are Bad News for Commercial Real Estate Financing The markets for both have pretty much collapsed in recent months, with defaults a particular threat to CRE overall. [Read More]( Podcast: Building Beyond Bricks: MaryAnne Gilmartin’s Legacy Dive into a captivating discussion with one of the real estate industry's legends, MaryAnne Gilmartin of MAG Partners, hosted by Max Gross. [Read More]( Amazon Has a Lot of Problems Suddenly. It’ll Be OK. The antitrust lawsuit against Amazon could take years to resolve, and in the meantime the e-commerce hegemon will continue to grow. [Read More]( GSA Administrator Robin Carnahan: Sustainability Will Help Guide Billions in Investments The U.S. General Services Administration — the federal government’s real estate manager — is going to use environmental sustainability as a major benchmark for its projects. That’s according to Robin Carnahan, the agency’s administrator. [Read More]( Pro-Housing Zoning Policy Gains Traction Nationally — But Runs Into Barriers The lack of housing at all income levels has become such a pressing issue that traditional attitudes toward development have slowly begun to shift. [Read More](     What We're Reading This Week   - Tougher [Return-to-Office]( Policies Are No Remedy for Half-Empty Buildings [WSJ] - [Supreme Court]( Justices Wary of Argument Against Financial Watchdog’s Funding [WSJ] - [Bonds]( Might Hold Up Even as Stocks Fall. Here’s Why. [Barron's]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 10/05/2023