Commercial real estate faces a shakeout – but the landing will be 'softer than you think,' says 'Shark Tank' star Kevin O'Leary
The commercial real estate market is facing a major shakeout for the first time in more than two decades, according to"Shark Tank" investor Kevin O'Leary.
Despite anticipating a big correction in the commercial property market, he said it wouldn't be wiped out entirely. "It's a hard asset, the ownership changes because you got the idiot managers. They get wiped out, they lose all their equity, and new managers come in with distressed funds – of which there's billions being raised now," O'Leary told"There's so much money on the sidelines waiting for this so-called bloodbath.
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