This article does a great job detailing the value of the Capital markets on Commercial Real Estate especially now that the REITS have been so dominant. The success of public money to acquire and build large high quality portfolios is evident.
From the perspective of the Real Estate broker, it is also becoming very evident that the future of real estate will revolve around the availability of capital as banks continue to be bogged down with unresolved issues, the "restructuring" of Fannie and Freddie, and the economy looking to flounder even further. Capital structure and equity raising will be a key factor to getting most deals done. Gone are the days of relying on the buyer or others to bring in the capital to get the deal done. It now has to be part of the brokerage package. The game is definitely changing.
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