Special situations as a strategy in today’s market
by Andrea Zander
In a market defined by repricing and prolonged deleveraging, the opportunity set is pervasive, but it’s increasingly idiosyncratic rather than driven by broad market momentum, so “you need to know where to look,” said Andrew Gindy, founder and managing partner at Range Equity Management, L.P. (REM), in an interview with IREI. He is concentrating on operationally complex “special situations,” targeting properties facing capital structure stress, refinancing pressure, or operational underperformance where active asset management creates value rather than stabilized, income-oriented assets.
