Jess Bressi of law firm Luce Forward talks to GlobeSt.com's Alyson Grala about workouts and forclosures at Real Estate 2010. Watch the full video on GlobeSt.TV.
Bressi enumerates a number of the reasons that workouts work: "You can't refinance a lot of these problems," he says. And lenders don't want to foreclose, for a variety of reasons—some of them economic and some of them personal.
Bressi also wades in on the ever-popular topic of when the flood of distressed assets will arrive. "I don't think we'll see a flood," he says. More likely, it will be a stream that gradually grows into a river" because there are too many reasons for lenders to avoid unleashing a flood of assets all at once.
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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.
