Real estate secondaries in the time of covid-19: Down but not out
"What's going to happen to office buildings is actually quite interesting. At this point, the answer is, no one is sure."
So spoke Stephen Schwarzman, chairman and chief executive of the world's largest real estate investor Blackstone at a New York conference in May.
Schwarzman's comments encapsulate the sense that the coronavirus crisis has accelerated existing, sweeping trends in the real estate market. The uncertainty stemming from this has trickled down into the secon...