Distress Coming For Apartments, But Lenders Continue 'Kicking The Can' On Foreclosure

An Atlanta data center operator is looking to build on 200 acres in Coweta County.

T5 Data Centers has applied to develop a 2.95M SF data center on 200 acres on a site south of Weldon Road and east of Palmetto Tyrone Road more than 25 miles south of Downtown Atlanta, according to an  application filed with the Georgia Department of Community Affairs. The…

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This series goes deep with some of the most compelling figures in commercial real estate: the deal-makers, the game-changers, the city-shapers and the larger-than-life personalities who keep CRE interesting.

Deborah Smith has come a long way from milking cows and checking her rubber boots for recluse spiders.

After a childhood spent on a dairy farm, Smith moved to the U.S. 20 years ago to work for Morgan Stanley. After riding the waves of the best and worst of the U.S. economy, Smith now reigns as the CEO and co-founder of The CenterCap Group, a commercial real estate advisory firm that has been involved in more than $400M in mergers and acquisitions since its inception in 2009.

Most recently, Smith and her firm represented The RMR Group in its $80M all-cash acquisition of the multifamily firm Carroll, whose former CEO Patrick Carroll has been embroiled this year in scandal over claims of domestic abuse and egregious public behavior.

The graduate of the University of Sydney has had her hands involved in more than $100B of M&A activity throughout her career. 

This interview has been edited for length and clarity.

Bisnow: How did you end up making a career in commercial real estate financing and M&A activity? Smith: I grew up in Australia on a dairy farm in the middle of nowhere. I graduated from the University of Sydney and moved into Morgan Stanley in Australia…

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In Case You Missed It...

The Supreme Court has declined to hear a case from New York state that had the potential to upend rent control laws not only in that state but nationwide. The case was a challenge to New York's Housing Stability and Tenant Protection Act of 2019.

The plaintiffs, the Community Housing Improvement Program and the Rent Stabilization Association, two New York-based landlord groups, challenged the 2019 law in hopes of having it voided, but they also challenged the entire framework of rent control in the state and elsewhere, asserting that it amounts to an unconstitutional taking of property.

“Since the time of our filing in July of 2019 foreclosures have accelerated and the law’s punitive effects have dramatically worsened. While we were hopeful a broad facial challenge would have delivered the most relief to the most owners as quickly as possible, we remain convinced that the law is…

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