US commercial property investors brace for worst
The Guardian reports: Last year, real estate investment trust (REIT) investors knew the party was over, but they did not expect it would take so long to clean up the mess.
"It's scary" is the standard morning greeting this week at the National Association of Real Estate Investment Trusts (NAREIT) annual convention held in San Diego. Attendance was down 17 percent this year.
The global credit drought has been especially hard on the commercial real estate industry, which relies heavily on debt to finance purchases of shopping centers, office buildings, hotels, apartments and warehouse and distribution centers.
U.S. commercial property sales in October were down about 75 percent from a year earlier, according to research firm Real Capital Analytics.
View the full article on The Guardian: US commercial property investors brace for worst
Posted by: Nina Turner