{"id":9741,"date":"2023-05-24T10:45:28","date_gmt":"2023-05-24T14:45:28","guid":{"rendered":"https:\/\/www.abelianpartners.com\/?p=9741"},"modified":"2023-05-24T10:46:03","modified_gmt":"2023-05-24T14:46:03","slug":"weekly-report-may-24-2023","status":"publish","type":"post","link":"https:\/\/www.abelianpartners.com\/market-updates\/weekly-report-may-24-2023\/","title":{"rendered":"Weekly Report &#8211; May 24, 2023"},"content":{"rendered":"<section class=\"l-section wpb_row height_medium\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-1 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><div class=\"vc_col-sm-10 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><h2>Highlight of the Week<\/h2>\n<\/div><\/div><div class=\"w-separator size_small with_line width_default thick_1 style_solid color_border align_center\"><div class=\"w-separator-h\"><\/div><\/div><div class=\"g-cols wpb_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-6 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><h4>PacWest Sells Real Estate at a Discount<\/h4>\n<\/div><\/div><\/div><\/div><\/div><div class=\"vc_col-sm-6 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><ul>\n<li>PacWest Bancorp agreed to a deal with Kennedy-Wilson Holdings to sell a construction loan portfolio valued at $2.6 billion for a cost of $2.4 billion. An approximate 8% discount.<\/li>\n<li>PacWest stock jumped 12% on the news. Investors welcomed the transaction as the bank now has over $15 billion in liquidity, up from $12.4 billion in Q1 2023 and $6 billion in Q4 2022. The transaction provides an additional cash stimulus to help replenish liquidity as uninsured deposits have decreased by 45% since Q4 2022.<\/li>\n<li>We expect to see similar deals in the coming months as banks will continue to shore up cash positions. This is the first significant real estate deal by a regional bank selling a discounted real estate portfolio to provide additional cash stimulus to the balance sheet. In the case of devalued CRE portfolios, expect haircuts on transactions to be more severe than the one PacWest received.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_col-sm-1 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row height_medium color_alternate\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-3 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><div class=\"vc_col-sm-6 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><h3>Rate Curves<\/h3>\n<\/div><\/div><div class=\"w-separator size_small with_line width_default thick_1 style_solid color_border align_center\"><div class=\"w-separator-h\"><\/div><\/div><div class=\"w-image style_shadow-1 align_center\"><div class=\"w-image-h\"><img decoding=\"async\" width=\"984\" height=\"575\" src=\"https:\/\/www.abelianpartners.com\/wp-content\/uploads\/2023\/05\/Graph_2023.05.24.png\" class=\"attachment-full size-full\" alt=\"Graph 2023.05.24\" loading=\"lazy\" srcset=\"https:\/\/www.abelianpartners.com\/wp-content\/uploads\/2023\/05\/Graph_2023.05.24.png 984w, https:\/\/www.abelianpartners.com\/wp-content\/uploads\/2023\/05\/Graph_2023.05.24-300x175.png 300w\" sizes=\"(max-width: 984px) 100vw, 984px\" \/><\/div><\/div><\/div><\/div><\/div><div class=\"vc_col-sm-3 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Highlight of the Week PacWest Sells Real Estate at a Discount PacWest Bancorp agreed to a deal with Kennedy-Wilson Holdings to sell a construction loan portfolio valued at $2.6 billion for a cost of $2.4 billion. An approximate 8% discount. PacWest stock jumped 12% on the news. Investors welcomed the transaction as the bank now...","protected":false},"author":7,"featured_media":9743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[27],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Report - May 24, 2023 - Abelian Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.abelianpartners.com\/market-updates\/weekly-report-may-24-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Report - May 24, 2023 - Abelian Partners\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.abelianpartners.com\/market-updates\/weekly-report-may-24-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Abelian Partners\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-24T14:45:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-24T14:46:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.abelianpartners.com\/wp-content\/uploads\/2023\/05\/Graph_2023.05.24-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"984\" \/>\n\t<meta property=\"og:image:height\" content=\"575\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Abelian Partners\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AbelianPartners\" \/>\n<meta name=\"twitter:site\" content=\"@AbelianPartners\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abelian Partners\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.abelianpartners.com\/market-updates\/weekly-report-may-24-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.abelianpartners.com\/market-updates\/weekly-report-may-24-2023\/\"},\"author\":{\"name\":\"Abelian Partners\",\"@id\":\"https:\/\/www.abelianpartners.com\/#\/schema\/person\/cd5232dfcbde2c8b74bddcaa6eb02770\"},\"headline\":\"Weekly Report &#8211; 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