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August 9th, 2009

• As an alternative to the CMBS market, lenders

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• As an alternative to the CMBS market, lenders and capital sources are actively working on a solution but it will take some time to form a new and proven product. [...] • While corporate credit is key, realestate fundamentals must be present: Market rents, market pricing for $/sf of building, etc. • The large premium for purchasing a realestate asset that includes an income stream has been largely eroded. • Current rates vary between 5% to mid 6% for recourse money but some lenders will do non-recourse at low leverage at roughly 7%+.
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