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Top related persons:
Banks - 1 Wells - 1 Morgan Stanley - 1 Morgan Stanley's dealmaking - 1 Tomasz Piskorski - 1 Piskorski - 1 Jim Cramer - 1 Morgan - 1
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Wells CRE U.S Wells Fargo South Lake Seattle , Washington
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Search resuls for: "Collin Madden"


2 mentions found


☆ What a stressed commercial real estate market means for these exposed bank stocks
  + stars: | 2023-09-27 | by ( Morgan Chittum | ) www.cnbc.com   time to read: +9 min
Banks are facing mounting uncertainty as the commercial real estate (CRE) sector continues to struggle. Commercial real estate landscape Higher interest rates, tightening credit conditions and elevated office vacancies are weighing down the estimated $21 trillion commercial real estate sector . A lagging commercial real estate market can strain a bank's capital reserves while a stronger market can boost incomes from lending and fees. While there's reason for concern in the broader commercial real estate market, we see the most pronounced challenges unfolding in offices. CEO Charlie Scharf said the bank sustained "higher losses in commercial real estate, primarily in the office portfolio."
Persons: Banks, Wells, Morgan Stanley, Morgan Stanley's dealmaking, Tomasz Piskorski, Piskorski, Jim Cramer, Morgan, deteriorations, Tailwinds, JPMorgan Chase, Wells Fargo, Michael Santomassimo, Charlie Scharf, Jeff Marks, Wells Fargo execs, Santomassimo, Jim Cramer's, Jim, Collin Madden, Karen Ducey Organizations: Columbia Business School, Federal Reserve, CNBC, That's, Semiconductor, Arm Holdings, Rivian, IB, Barclays, JPMorgan, GEM, Estate Partners, South Lake Union Locations: Wells, CRE, U.S, Wells Fargo, South Lake, Seattle , Washington
☆ Companies still have way too much office space, and they can't sell it
  + stars: | 2022-11-05 | by ( Eric Rosenbaum | ) www.cnbc.com   time to read: +5 min
Collin Madden, founding partner of GEM Real Estate Partners, walks through empty office space in a building they own that is up for sale in the South Lake Union neighborhood in Seattle, Washington, May 14, 2021. According to Elizabeth Ptacek, senior director of market analytics at commercial real estate information and analytics company CoStar, there is currently 232 million square feet of surplus commercial real estate up for sub-leasing. A few things we know about corporate real estate: it's a focus of cost-cutting for companies, but it's also probably the last asset you want to sell now in a soft market. It's a bad situation, but she said that for owners of corporate real estate, if the cost of real estate debt is cheap and the balance sheet is solid, sit on the real estate. Ptacek noted that after 2008, the peak in the distressed asset sales wave didn't occur until 2010/2011.
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