LOS ANGELES-The industry is likely to see more developments such as the $554-million acquisition of troubled real estate loans from Corus Bank by Starwood Capital Group, said Jess Bressi, a partner at law firm Luce Forward. The move came just after Corus was seized by the FDIC.

“There are a lot of zombie banks,” said Bressi, speaking at RealShare Apartments 2009. “Those are the walking dead. They’re not making loans, they’re not enforcing loans, and they’re just hoping they can live from paycheck to paycheck.”

Bressi spoke with GlobeSt.com editor Ian Ritter. To view the full interview, click the link below.

http://www.globest.tv/jess-bressi-of-luce-forward/