A encounter with a teenager led him to an investment in California apartment complexes.
Igal Namdar has made a fortune buying shopping malls no one else wants.
The Oaktree REIT has returned 10.3% annually since its inception in December 2019.
One segment of the battered office real estate market is drawing investors like Blackstone Group and KKR.
So far, the wave of defaults expected from the Covid-19 outbreak has not occurred.
Debt structures will make it difficult to bail out mall landlords.
The pandemic largely froze the commercial-property market.
The housing market has been a key source of strength for the pandemic economy.
Some huge real estate investors are cutting losses and walking away from debt on bad property deals.
The mass exodus of Americans from public spaces has hammered already-weak retailers and their landlords.
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