Biden exit from the race: Current US President Joe Biden announced on Sunday that he will not seek re-election and endorsed Vice President Kamala Harris as the Democratic nominee. Senior members of the Democratic party have expressed their support for Kamala Harris. Donations for the campaign have begun to rise after Biden’s decision.
In the syndicated loan market—during times of borrower distress—documentation loopholes are allowing majority lenders to disproportionately benefit at the expense of minority holders. This practice, known colloquially as “lender-on-lender violence,” presents a significant challenge to the sector. The menace is growing by the day.
Dags Chen and Lincoln Janes discuss that while the cooling of the Sunbelt multifamily property market is creating cracks in the capital stacks of owners, it is also presenting potential opportunities for investors.Many recent buyers and developers of Sunbelt multifamily properties are overleveraged and need capital to bridge the gap between their debt balances and the significantly depreciated equity value of their holdings. The current pall over the asset class, however, obscures its long-term attractiveness for patient investors.