Episode
39
Kyle O’Hehir - The Distressed Real Estate Credit Market
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About this Episode
In this episode, we're joined by Kyle O’Hehir, Co-Founder and CTO of Constitution Lending, to talk about the distressed real estate.
We cover:
- Introduction to Assessment Matters podcast 00:00
- Kyle’s background in finance and real estate 00:40
- From commodities trading at a hedge fund to real estate assets
- The distressed real estate credit market 3:13
- Buying out debt from other lenders
- Pursuing debt repayment to secure the real estate collateral
- The post-COVID commercial real estate market 10:00
- Increased opportunity in the distressed debt market
- Influence from debt capital markets
- Macro-level concerns: the impending debt “maturity wall” 13:52
- Pre- vs post-COVID: the rise of non-bank lenders
- Bank lenders have flexibility that non-bank lenders do not
- How does this influence behavior around upcoming maturities?
- Good vs bad distressed debt deals 20:53
- Preliminary screens: quality of underwriting and default rate
- Subsequent modeling
- Evaluating real estate value as part of due diligence 24:44
- Kyle’s most memorable deal 27:44
- How to reach Kyle 35:28
- @financeguy725 on Twitter
- Other podcast appearances
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