Lending woes hit commercial real estate market
Sun Aug 12, 2007 5:32 PM EDT
By Ilaina Jonas
NEW YORK (Reuters) - The havoc in the credit markets could reduce prices that office, industrial, apartment and shopping-center properties have commanded over the past few years.
Because of the turmoil in credit markets that started in the residential mortgage sector, commercial mortgage lenders are charging higher interest rates and lending lower portions of the purchase price -- despite lower vacancy rates and higher rental rates.
Sunday, August 12, 2007
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