Barry Sternlicht: ‘Category 5 Hurricane’ Has Come For Commercial Real Estate
July 21, 2o23 | Ciara Long | Bisnow
New distress opportunities are emerging for commercial real estate players able to weather the current storm, but buyers may need to be able to endure the current fiscal difficulties for longer than some expect, billionaire commercial real estate executive Barry Sternlicht said.
“We’re in a Category 5 hurricane,” the Starwood Capital Group founder and chairman said in an interview on Bloomberg this week. “It’s sort of a black cloud hovering over the entire industry until we get some relief or some understanding of what the Fed’s going to do over the longer term.”
