It's Back to Earth with a Bump
AFR Financial Review reports: The "REITification of real estate in recent years is over for now, according to New York-based Real Capital Analytics.
RCA's December Global Capital Trends Report, released on Saturday, found the value of global property transactions fell 57 percent on preliminary estimates, from a record US $1,196.3 billion in 2007 to US $513.4 billion in 2008. The decline was exacerbated by a 90 percent drop in the amount of commercial mortgage-backed securities issued.
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Posted by: Nina Turner