Commercial real estate in for tough 2009
Associated Press reports: "It's hard to be an optimist right now," said Dan Fasulo, managing director of research firm Real Capital Analytics. "We're at the point where there's another potential systemic failure that the industry is trying to avoid."
Real Capital identified more than 1,000 large commercial properties nationwide, representing $25.7 billion, that are already bank-owned or the landlord is in default. But there are another $80.9 billion, or more than 3,700, properties that could potentially fall into trouble this year, the firm estimates.
View the full article on Associated Press: Commercial real estate in for tough 2009
Posted by: Nina Turner