Tom Barrack Steps Back from Colony Capital in Era of ‘Reprice and Reinvent’
• Prominent investor sees economics of real estate changing
• Firm has shifted strategy to focus on digital infrastructure
September 10, 2020 | John Gittelsohn and Jason Kelly| Bloomberg
Tom Barrack built Colony Capital Inc. buying distressed real estate during economic downturns.
This time, however, Colony is selling brick-and-mortar properties as it reshapes its portfolio to focus on what it calls “digital infrastructure.”
With the pandemic battering commercial real estate, Barrack said properties including malls and hotels are still attractive to investors who are raising cash to take advantage of the next round of distressed opportunities.
