Law360 Quotes Uri Itkin on Real Estate Sectors to Watch in 2024
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For its article, “4 Real Estate Sectors to Watch In 2024,” Law360 quoted Akin investment funds litigation partner Uri Itkin regarding the commercial real estate market. The article noted that the office market for older Class B properties continues to face distress as companies contemplate their needs for brick and mortar space and the Federal Reserve has raised rates 11 times over the past 18 months, making it difficult to refinance.
"For these properties, the [debt] payments can be astronomical. Absent a large-scale change from the Fed — maybe it will slow down, but we don't really anticipate interest rates dropping anytime soon — I think this is going to continue," said Uri.
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