Tuesday, March 10, 2009

Government Moving Towards Commercial Real Estate Bailout

The Christian Science Monitor has a very good article discussing the addition of commercial backed mortgage securities (CMBS) to the TALF (Term Asset Backed Securities Loan Fund) in order to assist with the growing amount of commercial debt that will be coming up for refinance this year. Some estimates now put the number at $300 billion that developers and owners need refinanced this year. With vacancies rising, values are falling and this could end up costing upwards of $1 trillion in government funds.

Here is a link: http://features.csmonitor.com/economyrebuild/2009/03/09/real-estate-woes-seep-into-malls-office-towers/

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