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NEWPORT BEACH, CA-There isn’t a lot of real estate lending going on outside of the US, according to Charles “Chip” Fedalen, Jr., EVP and group head of the real estate banking group at Wells Fargo & Co. Fedalen joined several others on a capital markets power panel during NAIOP SoCal’s annual Fall Forum here recently.

Fedalen said the US is currently in the accelerated phase of the real estate lending cycle and added that he sees tremendous activity on the brokerage side, an activity level that is similar to that of 2005 to 2006 in that it is not yet peak but close to it. He also noted that a good one-third of Wells Fargo’s business is construction, which is an encourage sign for the market.

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