GlobeSt.com: It's been an interesting year,no?

Thompson: I love 2008. It's been interesting andwill be more so. Even though the stock market is reflecting somebuoyancy and earnings aren't as bad as everyone thought, we stillhave a ways to go in the debt market to de-leverage some of thesignificant run-up in values. So there's a shortage of commercialdebt right now, and it will be interesting to see what kind ofbumps in the road occur when a significant amount of commercialdebt has to be refinanced, particularly throughout '09. There willbe shortfall in the ability to refinance, and that gap is where theopportunity is for people with cash and expertise.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.