Lewis Feldman, Partner/Los Angeles Office Chair, Goodwin Procter LLP
"We have a number of developments...that we're not prepared to start because we don't see enough retailer demand," says Peter Lowy of the Westfield Group, center. With him are Richard LeFrak of the LeFrak Organization, left, and Barry Sternlicht of Starwood Capital Group.
The commercial real estate market has taken a major punch; delinquencies and vacancies have risen across all property sectors. Falling prices have prevented owners from being able to refinance, while the recession has hit the retail sector hard and dampened tenant demand for office space. When will we see CMBS issuance revive? Will investors approach the CMBS market any differently in the future? Will banks create financing incentives for landlords to hold on to their properties? Should the government intervene in the commercial market to the same degree it has in the residential market? Are there opportunities to snap up newly distressed properties that were once overvalued?
Global Conference 2013
Former Prime Minister Tony Blair, philanthropist Bill Gates and Strive Masiyiwa of Econet Wireless discuss advancing prosperity in Africa.
