Real estate guru tips funding revival
Sunday, May 04, 2008; Posted: 07:35 PM
May 04, 2008 (The Australian Financial Review - ABIX via COMTEX) --
-- A US property expert predicts the return of the commercial mortgage-backed securities (CMBS) market. Sam Zell said that the US credit crisis caused demand to disappear from July 2007. In May 2008, he says demand is starting to recover. The market was a major source of funding for construction and commercial real estate deals. CMBS issues were $US234 billion ($A250 billion) in 2007. Issuance for 2008 is expected to be about $US40 billion.
Publication Date: 5 May 2008
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