WHO'LL FILL THE CMBS GAP?
If you can't see opportunity in crisis, chances are youdon't work for a private equity shop. Or an insurance firm. Or evena local bank. The 131 respondents to last week's Quick Poll aboutfilling the CMBS gap say those three entities are there and readyto take up the slack. For the record, the votes came in at 42%, 32%and 26% respectively. Steven E. Pumper, executive managing directorof investment services for Transwestern, (and co-moderator--witheditorial director Michael Desiato) of Real Estate Forum's annualExecutiveForum, says that this meltdown is not only deep but long, andthere's plenty of caution to go around. Here's how he seesit:
"The poll results don't surprise me. For many of the banks therehave been some mandated pullbacks by the credit committees and thatpace has picked up over the past few weeks.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
