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

by scmp.com posted 8months ago 142 views
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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