The pressure is on federal government to do something to free up credit for commercial real estate projects. Earlier this year, the Federal Reserve announced the Term Asset Backed Securities Loan Facility (TALF), which program was intended to revive commercial real estate by providing a market for commercial mortgage backed securities. A pending deal with Developers Diversified Realty Corp., which owns and operates close to 30 shopping centers around the country, would borrow $400 million, which would be converted into a commercial mortgage backed security offering through the federal TALF program. The Federal Reserve is reviewing the deal now and if it goes through, the deal may unlock the credit market, particularly for properties that have an established and stable cash flow. Read more on the Wall Street Journal at http://http://online.wsj.com/article/SB125729550942326763.html##
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment