Friday, June 05, 2009
Barry Sternlicht Shows The Way
From Alzheimer(*): Barry Sternlicht’s Starwood Property Trust Inc., a newly formed company that will originate and invest in commercial real estate mortgages, plans to raise as much as $500 million in an initial public offering. Starwood Property said it will purchase distressed commercial loans and provide financing for commercial property, according to a regulatory filing.
U.S. loan originations for commercial real estate dropped 65 percent to $181.4 billion in 2008 as the market to package and sell those loans as securities dried up. The lack of liquidity is also driving up delinquencies on commercial property loans.
“The next five years will be one of the most attractive real estate investment periods in the past 50 years (**)."
(*) Dont Remember.
(**) Nochi Dankner thought this first. He intends to invest in London. I am inside.
Post Data: Re-reading the above, I wonder how I allowed it to pass. "The NEXT five years will be... in the PAST fifty years". My mind must be decaying. Alcohol is the best remedy against atheriosclerosis and Alzheimer, is it?