Winebusiness.com - Homepage for the Wine Industry

Real Estate Billionaire Barrack Says Commercial Mortgages on Brink of Collapse

March 23, 2020

Barrack, chairman and chief executive officer of Colony Capital Inc., warned in a white paper and in a subsequent interview on Bloomberg Television of a chain reaction of margin calls, mass foreclosures, evictions and, potentially, bank failures due to the coronavirus pandemic and consequent shutdown of much of the U.S. economy.