Commentary: Debt Concerns Commercial Real Estate Industry
Currin, Darren, THE JOURNAL RECORD
Even as improvement continues in the national commercial real estate market, concern still exists that the industry is far from being out of the woods. Granted, the commercial market did not experience the type of crash the residential market experienced during the recent recession, but challenges continue to persist.
In a recent article posted at www.loansafe.org, Bob Jacobs, chief investment officer of Denver-based Broe Group said the following about current market conditions:"There is a lot more to come -- a lot of pain. There has been a crash. But it's not as high-profile and political as the single-family home bust."The primary problem facing the industry, according to national experts, is the billions of dollars of commercial properties that have fallen into foreclosure. Marcel Arsenault, chairman and CEO of Real Capital Solutions, said the Federal Reserve's move to lower mortgage rates has only masked many of the problems for commercial lending. …