Real-Estate Refinancing is 'A Buyer's Market,' Blue Owl's Lipschultz Says

Dow Jones10-31 06:44

1843 ET - Many real-estate owners who financed property acquisitions before a sharp rise in interest rates that began in 2022 now face hurdles as they will soon have to refinance those assets, Marc Lipschultz, co-CEO of credit and real-estate investor Blue Owl Capital, says during an earnings call. "This refinancing wave in real estate is here; it is coming," Lipschultz says. He notes that property owners' refinancing needs exceed the capital available in the market, creating opportunities for his firm. "We are seeing a very significant backlog of opportunities, a very significant pipeline. We absolutely like the risk-reward on what we are seeing," he says. "For lack of a better term, frankly, it is a buyer's market." Blue Owl ended September with $329.9 billion in assets, including $18.5 billion across real-estate-credit strategies.

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