Envelope-to: andrew@sterlingcal.com
Delivery-date: Mon, 25 Mar 2024 10:26:47 -0500
Date: Mon, 25 Mar 2024 11:26:36 -0400
From: iGlobal Forum Partners <copartner@iglobalforum.com>
Reply-To: copartner@iglobalforum.com
To: andrew@sterlingcal.com
Message-ID: <1711380270288.154e5e16-1658-4b1e-b96f-66b3d507f300@bf02x.hubspotemail.net>
Subject: A View into NYC CRE Market Distress
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2024-2026 is expected to be the most attractive entry point to acquire NYC =
non-performing loans since the Global Financial Crisis.

View in browser (https://cHycy04.na1.hubspotlinks.com/Ctc/I5+113/cHycy04/MV=
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iGlobal_Logo_560x144 transparent (https://cHycy04.na1.hubspotlinks.com/Ctc/=
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Real Estate Partner Insights (https://cHycy04.na1.hubspotlinks.com/Ctc/I5+1=
13/cHycy04/MVw-YbQBkgwW16DzJ86zRsWZQ15c4PhbN7Cq3xv3pyd0W7Y8-PT6lZ3mrW7SWsGT=
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sWW1lhZGN76Hm60W5dkTnv4v1RKrf3KBXM404 )

PRESENTED BY: Maverick Real Estate Partners (https://cHycy04.na1.hubspotlin=
ks.com/Ctc/I5+113/cHycy04/MVw-YbQBkgwW16DzJ86zRsWZQ15c4PhbN7Cq3wW3pyd0W6N1v=
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FzhTp2v9pT5W4TbWzs8M4kCnW2ZxcLT8-sf__W1176pt8mXdxlW2v3J2m25pf3df47-Thg04 )

Maverick Real Estate Partners estimates that there is $107B of NYC Commerci=
al Real Estate debt that is sub performing. 2024-2026 is expected to be the=
 most attractive entry point to acquire NYC non performing loans since the =
Global Financial Crisis.

Click below to learn more about the current opportunity set.

Read More
(https://cHycy04.na1.hubspotlinks.com/Ctc/I5+113/cHycy04/MVw-YbQBkgwW16DzJ8=
6zRsWZQ15c4PhbN7Cq3w05n4LbW50kH_H6lZ3pYVhgJY41V0Z8RW3MxRSS52fDlXW51t0NY25Xg=
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Yf158p6s04 )

In this white paper, Maverick shares various insights including the followi=
ng:

-

The connection between rapidly escalating interest rates and the CRE market=
 slowdown, including context from the last period of severe distress

-

Size of total debt in the NYC market with breakdowns by vintage and asset t=
ype; the impact of coming maturities

-

Declining office values, and the particularly precarious position of Class =
B&C Office

About Maverick Real Estate Partners

Founded in 2010, Maverick is the most active distressed investor in the New=
 York commercial real estate market. Maverick=E2=80=99s success is attribut=
ed to its NYC focus, data driven sourcing, margin of safety, and distressed=
 debt expertise. Maverick has deployed $1.1 billion into 202 investments.

To learn more please contact investor.relations@maverickrep.com (mailto:inv=
estor.relations@maverickrep.com) or call 332-249-8878.

LinkedIn (https://cHycy04.na1.hubspotlinks.com/Ctc/I5+113/cHycy04/MVw-YbQBk=
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iGlobal Forum, 6 East 43rd Street, 19th Floor, New York,NY,10017,United Sta=
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ycy04.na1.hubspotlinks.com/Ctc/I5+113/cHycy04/MVw-YbQBkgwW16DzJ86zRsWZQ15c4=
PhbN7Cq3xv3qn9gW7Y8-PT6lZ3lDW7Qvwbb3B9v2_W1LVJLC396DLTVHp7NC420vRfW8WQzfX7C=
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margin-bottom:5px; text-decoration:underline" rel=3D"noopener" data-hs-link=
-id=3D"0" target=3D"_blank">Real Estate Partner Insights</a> <br><span styl=
e=3D"display: inline-block; color: #979393; font-size: 14px; font-weight: b=
old; font-family: Roboto,sans-serif; line-height: 1.3;">PRESENTED BY: <span=
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Ctc/I5+113/cHycy04/MVw-YbQBkgwW16DzJ86zRsWZQ15c4PhbN7Cq3xb3qn9gW7lCdLW6lZ3p=
PW7tWmPB6QKt9cW3W8VJ22rKBlfW27CF1v5NwpBJW24Dcjn2qcB--W93jtmW56XmSfW6_HmVB1d=
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text-decoration:none" rel=3D"noopener" data-hs-link-id=3D"0" target=3D"_bla=
nk">Maverick Real Estate Partners</a></span></span></p>
           =20
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  =20
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 =20
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   =20
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    <!--[if (mso)|(IE)]>
      <div class=3D"hse-column-container" style=3D"min-width:280px;max-widt=
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      <td align=3D"center" valign=3D"top" style=3D"border-collapse:collapse=
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e=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:Ar=
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 style=3D"border-spacing:0 !important; border-collapse:collapse; mso-table-=
lspace:0pt; mso-table-rspace:0pt">
        <tbody><tr>
          <td class=3D"column" cellpadding=3D"0" cellspcing=3D"0" border=3D=
"0" width=3D"100%" style=3D"border-collapse:collapse; mso-line-height-rule:=
exactly; font-family:Arial, sans-serif; font-size:15px; color:#444444; word=
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            <h1 style=3D"font-size:28px; margin:0; mso-line-height-rule:exa=
ctly; line-height:1.3; color:#000; font-family:Roboto,sans-serif"></h1>
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       =20
        <tr>
          <td cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D"100%=
" style=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-fam=
ily:Arial, sans-serif; font-size:15px; color:#444444; word-break:break-word=
">
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"100%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-=
table-lspace:0pt; mso-table-rspace:0pt">
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                <tbody><tr>
                  <td class=3D"column" cellpadding=3D"0" cellspcing=3D"0" b=
order=3D"0" width=3D"100%" style=3D"border-collapse:collapse; mso-line-heig=
ht-rule:exactly; font-family:Arial, sans-serif; font-size:15px; color:#4444=
44; word-break:break-word; padding-bottom:20px">
                    <div style=3D"font-size: 16px; line-height: 1.3; color:=
 #202020; font-family: Roboto,sans-serif;"><div>
<div>
<div>
<div>
<p style=3D"mso-line-height-rule:exactly">Maverick Real Estate Partners est=
imates that there is $107B of NYC Commercial Real Estate debt that is sub p=
erforming. 2024-2026 is expected to be the most attractive entry point to a=
cquire NYC non performing loans since the Global Financial Crisis.</p>
<p style=3D"mso-line-height-rule:exactly; font-weight:bold">&nbsp;</p>
<p style=3D"mso-line-height-rule:exactly; font-weight:bold">Click below to =
learn more about the current opportunity set.</p>
</div>
</div>
</div>
</div></div>
                  </td>
                </tr>
             =20
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=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=
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pt; border-collapse:separate!important">
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c32pkS04W6pJQDs3VRDTtW78LPL_54p587W5DbYxB8MHTcyW5N6llv2Wdv0hW3zjh6g1hlNcsW6=
gTn2v6LSsypf1Hvd5Y04" target=3D"_blank" style=3D"color:#00a4bd; mso-line-he=
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Margin:0; text-transform:none; text-decoration:none; padding:12px 18px; dis=
play:block" data-hs-link-id=3D"0">
          <strong style=3D"color:#000000;font-weight:bold;text-decoration:n=
one;font-style:normal;">Read More</strong>
        </a>
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-break:break-word; padding-bottom:25px">
            <h1 style=3D"font-size:28px; margin:0; mso-line-height-rule:exa=
ctly; line-height:1.3; color:#000; font-family:Roboto,sans-serif"></h1>
          </td>
        </tr>
       =20
        <tr>
          <td cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D"100%=
" style=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-fam=
ily:Arial, sans-serif; font-size:15px; color:#444444; word-break:break-word=
">
            <table cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D=
"100%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-=
table-lspace:0pt; mso-table-rspace:0pt">
             =20
             =20
                <tbody><tr>
                  <td class=3D"column" cellpadding=3D"0" cellspcing=3D"0" b=
order=3D"0" width=3D"100%" style=3D"border-collapse:collapse; mso-line-heig=
ht-rule:exactly; font-family:Arial, sans-serif; font-size:15px; color:#4444=
44; word-break:break-word; padding-bottom:20px">
                    <div style=3D"font-size: 16px; line-height: 1.3; color:=
 #202020; font-family: Roboto,sans-serif;"><div>
<div>
<div>
<p style=3D"mso-line-height-rule:exactly; font-weight:bold">In this white p=
aper, Maverick shares various insights including the following:</p>
</div>
</div>
</div>
<ul style=3D"line-height: 150%;">
<li style=3D"mso-line-height-rule:exactly">
<p style=3D"mso-line-height-rule:exactly">The connection between rapidly es=
calating interest rates and the CRE market slowdown, including context from=
 the last period of severe distress</p>
</li>
<li style=3D"mso-line-height-rule:exactly">
<p style=3D"mso-line-height-rule:exactly">Size of total debt in the NYC mar=
ket with breakdowns by vintage and asset type; the impact of coming maturit=
ies</p>
</li>
<li style=3D"mso-line-height-rule:exactly">
<p style=3D"mso-line-height-rule:exactly">Declining office values, and the =
particularly precarious position of Class B&amp;C Office&nbsp;</p>
</li>
</ul></div>
                  </td>
                </tr>
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             =20
            </tbody></table>
          </td>
        </tr>
      </tbody></table>
    </td>
  </tr>
</tbody></table></div>
<div id=3D"hs_cos_wrapper_module_17108637394672" class=3D"hs_cos_wrapper hs=
_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"color: inherit; fo=
nt-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget=
" data-hs-cos-type=3D"module"><table cellpadding=3D"0" cellspcing=3D"0" bor=
der=3D"0" width=3D"100%" class=3D"emailglre_hero" style=3D"mso-table-lspace=
:0pt; mso-table-rspace:0pt; width:100%; max-width:600px; border-spacing:0px=
; margin:0 auto; border-collapse:collapse !important">
  <tbody><tr>
    <td cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D"100%" styl=
e=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:Ar=
ial, sans-serif; font-size:15px; color:#444444; word-break:break-word; padd=
ing:20px 20px 0">
      <table cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D"100%"=
 style=3D"border-spacing:0 !important; border-collapse:collapse; mso-table-=
lspace:0pt; mso-table-rspace:0pt">
        <tbody><tr>
          <td class=3D"column" cellpadding=3D"0" cellspcing=3D"0" border=3D=
"0" width=3D"100%" style=3D"border-collapse:collapse; mso-line-height-rule:=
exactly; font-family:Arial, sans-serif; font-size:15px; color:#444444; word=
-break:break-word; padding-bottom:25px">
            <h1 style=3D"font-size:28px; margin:0; mso-line-height-rule:exa=
ctly; line-height:1.3; color:#000; font-family:Roboto,sans-serif"></h1>
          </td>
        </tr>
       =20
        <tr>
          <td cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D"100%=
" style=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-fam=
ily:Arial, sans-serif; font-size:15px; color:#444444; word-break:break-word=
">
            <table cellpadding=3D"0" cellspcing=3D"0" border=3D"0" width=3D=
"100%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-=
table-lspace:0pt; mso-table-rspace:0pt">
             =20
             =20
                <tbody><tr>
                  <td class=3D"column" cellpadding=3D"0" cellspcing=3D"0" b=
order=3D"0" width=3D"100%" style=3D"border-collapse:collapse; mso-line-heig=
ht-rule:exactly; font-family:Arial, sans-serif; font-size:15px; color:#4444=
44; word-break:break-word; padding-bottom:20px">
                    <div style=3D"font-size: 16px; line-height: 1.3; color:=
 #202020; font-family: Roboto,sans-serif;"><p style=3D"mso-line-height-rule=
:exactly"><span style=3D"font-weight: bold;"> </span></p>
<div><span style=3D"font-weight: bold;"> </span>
<div><span style=3D"font-weight: bold;"> </span>
<div><span style=3D"font-weight: bold;"> </span>
<p style=3D"mso-line-height-rule:exactly; font-size:14px; line-height:125%"=
><span style=3D"font-weight: bold;">About Maverick Real Estate Partners</sp=
an></p>
<p style=3D"mso-line-height-rule:exactly; font-size:14px; line-height:125%"=
><span style=3D"font-weight: bold;"><br></span><span style=3D"font-size: 12=
px;">Founded in 2010, Maverick is the most active distressed investor in th=
e New York commercial real estate market. Maverick=E2=80=99s success is att=
ributed to its NYC focus, data driven sourcing, margin of safety, and distr=
essed debt expertise. Maverick has deployed $1.1 billion into 202 investmen=
ts.</span><span style=3D"font-weight: bold;">&nbsp;</span></p>
<p style=3D"mso-line-height-rule:exactly; font-weight:bold"><span style=3D"=
font-size: 12px;">To learn more please contact <span style=3D"color: #00000=
0;"><a href=3D"mailto:investor.relations@maverickrep.com" style=3D"mso-line=
-height-rule:exactly; color:#000000" rel=3D"noopener" data-hs-link-id=3D"0"=
 target=3D"_blank">investor.relations@maverickrep.com</a></span> or call 33=
2-249-8878.</span></p>
<span style=3D"font-weight: bold;"> </span></div>
<span style=3D"font-weight: bold;"> </span></div>
<span style=3D"font-weight: bold;"> </span></div>
<p style=3D"mso-line-height-rule:exactly"><span style=3D"font-weight: bold;=
"> </span></p></div>
                  </td>
                </tr>
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            </tbody></table>
          </td>
        </tr>
      </tbody></table>
    </td>
  </tr>
</tbody></table></div>
</div>
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    <!--[if (mso)|(IE)]></tr></table><![endif]-->
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  <div id=3D"section-5" class=3D"hse-section" style=3D"padding-left:10px; p=
adding-right:10px">
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   =20
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    <!--<![endif]-->
   =20
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pse;border-spacing:0;">
      <table align=3D"center" style=3D"border-collapse:collapse;mso-table-l=
space:0pt;mso-table-rspace:0pt;width:600px;" cellpadding=3D"0" cellspacing=
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          <p style=3D"mso-line-height-rule:exactly; font-size:12px; line-he=
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