The recently unveiled Treasury Department program that allows the federal government to help private buyers pick up toxic loans and commercial mortgage-backed securities won’t be enough to halt the expected wave of commercial real estate foreclosures, industry experts said. Commercial real estate prices may fall 35 to 45 percent from their peak. But the program could still spur banks to start lending, said Thomas Barrack Jr., founder and CEO of Colony Capital, a private equity firm.
|Tightening of loose cables preceded FIU bridge collapse that killed at least 6: Sen. Rubio|
|Brown Harris Stevens promotes Phil Gutman to president of Miami brokerage|
|Sonny Kahn buys neighboring Golden Beach oceanfront property for a big markdown|
|Developer Andy Ansin, son of billionaire, sells Coral Gables spec mansion|
|Rising construction costs challenge multifamily developers: panel|