Asset managers are licking their chops and looking to raise gobs of capital to try to buy commercial real estate assets at what some analysts say is the bottom of the market.
One of the firms that figures to be among the biggest players is TPG Real Estate Partners, with TPG CEO Jon Winkelried saying on an earnings call this week that the firm has amassed $6B in “dry powder” to spend on real estate, with a focus on the life sciences, data center, industrial and student housing sectors.
“The significant market dislocation is creating unique opportunities for us to acquire high-quality assets that rarely become available…