Real Estate

‘we Are Walking Towards A Default’: Hong Kong Real Estate Fund Stumbles As Coronavirus Tips Shanghai Commercial Property Into Bear Market | South China Morning Post

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Even seasoned bankers and real estate investors, honed by past financial markets and health crises, are no match for the calamity brought by the US-China trade war and the coronavirus pandemic.Phoenix Property Investors, a US$7.7 billion real estate fund, has six months to save itself from potential cascading defaults in two commercial property bets in China after the market cracked, banks trimmed lending and co-investors balked at a restructuring proposal.Two funds managed by Phoenix and…

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