It doesn’t make sense to commercial real estate investors that they aren’t seeing a steady stream of foreclosed assets for sale. So what’s the deal, they ask a guy like John Bell, managing director of DTZ Rockwood in Miami.
“Investors were expecting a flood of distressed real estate to hit the market, but this has not materialized,” says Bell, who recently issued a special report on the subject. Instead, he explains, lenders are employing the “extend and pretend” method, extending maturing loans for a year or two hoping for a market rebound.
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