Mark Streeter, Managing Director JPMorgan ChaseParticipated in a video interview during Neret’s REITWISE: 2024 Law, Accounting & Finance Conference held March 19-21 in Hollywood, Florida.
Streeter shared insights into the real estate capital markets during a panel at REITWISE, noting the openness of the capital markets to REITs in recent years and crediting this to the Federal Reserve’s messaging. Highlighting the pivot to December 2023 when the Fed hinted at a rate cut, which should lift credit performance in subsequent months, he said: “Don’t fight the Fed.”
Streeter emphasized REITs’ proactive approach in addressing debt maturity concerns post-Covid, which placed them in a favorable position amid rising interest rates.
Regarding CMBS maturing, Streeter acknowledged past challenges but saw signs of improvement in the market. He compared the CMBS market to a patient recovering from a serious illness, with signs of progress despite long-term issues. He also highlighted the strategy of postponing problems rather than seizing assets, suggesting a gradual path towards market stability.