The Real Deal - New York Real Estate News

Tom Barrack’s Colony Capital defaults on $3.2B in loans

Posted: 10 May 2020 08:01 AM PDT

Tom Barrack’s prediction that the commercial mortgage market would collapse has now hit close to home. The magnate’s Colony Capital has defaulted on $3.2 billion in loans backed by hotel and health care properties, according to a regulatory filing first reported by the Financial Times. Before the coronavirus crisis sent the economy into a spiral, that portfolio of 157 hospitality and health care-related properties accounted for three quarters of Colony’s real estate balance sheet. However,

Home prices cooled in these global cities in Q1

Posted: 10 May 2020 06:00 AM PDT

The first quarter saw prices for high-end homes fall in many cities across the globe as the coronavirus pandemic brought some markets to near standstills, but others saw prices still rise. A Knight Frank report on luxury home prices found that prices fell year-over-year in the first quarter in New York, Beijing, London, and Vancouver, according to Bloomberg. Nairobi, Kenya and Bangkok saw the most drastic slides of more than four percent. The economic effects