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Hines executive Colin Shepard speaks with GlobeSt.com's AlysonGrala about the office market during Real Estate 2010. Watch the full video onGlobeSt.TV.
A lot of buildings that had a significantly greater debt,Shepherd said, were not in a position where they could not replacedebt when it came due.
Recently, for tremendous product, Shepherd said, "we have seencap rates drop as low as 7 again," which he says is an indicationthat there is capital again. "There is capital on the sidelinesthat wants to get into the market and there are very few deals thatare transacting. There are very few landlords that are willing tosell in this marketplace, which has oddly enough driven to thescarcity of product."
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