S2's REIT Wipeout & A Lender's Extreme Show of Faith
This week, we dive into Sunbelt multifamily kingpin’s Scott Everett's (S2 Capital) audacious attempt to save his distressed portfolio via a private REIT – an attempt coming apart in real time. It's an opportunity for us to discuss the Sunbelt ZIRP-fueled boom/bust, the broader syndicator reckoning and how figuring out how to survive is sometimes all you can do. It’s then time to talk fathers and sons – a long-stalled FiDi site at 8 Carlisle may finally see salvation after lender Maxim Capital kept the faith in developer Grubb Properties after a decade-long debacle by the Ohebshaloms. And then…
The skinny
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