Davis Polk partners and co-heads of Real Estate Brian Lichter and Michael Rishty were quoted in Law360 on the federal real estate agenda for 2023. “For federal policy, interest rates are the one thing we are looking at most intently: where will they settle and when?” Michael noted. “I think the uncertainty around that today is slowing the transaction volume, but we’re hopeful that once there is some sense of where the rates will stabilize, transactions will be able to get priced appropriately again and the volume will start to increase.”

Brian added that “interest rates are key to our business” and predicted we are going to see “more transaction flows, whether it’s the distressed transactions which we really didn’t see as much as I think most people were expecting with COVID, or whether there’s actually going to be some real upside transactions coming out of this. It’s just a question of when.”

“Interest Rates Top Real Estate Pros’ Federal Agenda For 2023,” Law360 (January 2, 2023) (subscription required)

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