More than 9,000 executives are attending the three-day New York National Deal Making, which for the first time this year is being held at the Javits Center.
Global capital was the focus of one panel which heard some finance leaders outlines risks on the horizon.
Marc Shapiro, a partner at Mayer Brown LLP, said he has noticed lenders becoming aware of a growing risk of default. “More so than in the past, we are seeing capital saying: What happens if we end up owning the site?” he said.
Shapiro shared the stage with Jill Block, also of Mayer Brown LLP, and three real estate bigwigs on the final day of ICSC New York in the Javits Center yesterday (Tuesday). While none of the panelists expect a serious downturn in the commercial real estate market anytime soon, they all cautioned that could change.
In a keynote address, Donald Trump noted his preference for physical retail over Internet shopping. “I want to touch it and feel it,” he said.
And Simon Properties CEO David Simon spoke of the learning curve faced by Chinese retail investors. “Their desire has obviously been big hotels, big office buildings. But they are confused about retail,” he told ICSC delegates today (Tuesday).