Playing Defense on Lending
Commercial Observer
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Dara Friedman runs real estate investment firm BGO ’s core plus practice. She talked to Commercial Observer in depth about the difference between seeking out dislocation in the market and distress. It has to do with strategy. Also for today, and in case you missed it, CO’s annual Power LA list is out with the most consequential individuals in Los Angeles-area real estate.
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— Tom Acitelli, Deputy Editor
Dara Friedman, BGO's Core Plus Manager, Talks Fighting Market Uncertainty
The Greek philosopher Heraclitus once said, “There is nothing permanent except change.” This was around 500 B.C.E., so it’s unlikely he saw this current period of market dislocation coming down the pike. Still, the sentiment holds true today. Dara Friedman , a managing director and portfolio manager at BGO — known until recently as BentallGreenOak — studied philosophy at the University of Pennsylvania before turning her hand to commercial real estate. In her role overseeing the firm’s Core Plus Fund, her studies — coupled with more than two decades of industry experience — come in handy today as her team navigates the investment playing field, assessing and reassessing the changing opportunity set. Friedman sits in San Francisco and got her industry start as an analyst at Bank of America Securities, experiencing both the dot-com crisis and Global Financial Crisis in her first decade on the job. It’s helped to inform her decision-making today, and positioned her team well for the wave of opportunity headed our way before the year is out.
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LA LA Land Is Quiet … Too Quiet
Hollywood and its entertainment machine regularly echo through Commercial Observer’s list of most powerful real estate players in the Los Angeles area. But, today, those treasured soundstages and studios that have long defined Los Angeles are empty. The effects of the ongoing labor disputes between actors, writers and massive conglomerate-level production companies — such as Disney, Warner Bros. and Comcast — are raising new questions about the longevity of demand, especially considering the unprecedented surge in studio development projects currently in the pipeline. Thus, although Labor Day has passed, it’s still the Summer of Strikes in Los Angeles.
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