More Federal Help Wanted for Commercial Real Estate

The Term Asset-Backed Securities Loan Facility (TALF) has recently been expanded to include commercial real estate backed securities (CMBS). However, it believed among some local commercial real estate brokers, investors and developers that the drastic downturn in the commercial real estate requires further federal assistance.  The renewed call for action can be linked to the recent figures released by CB Richard Ellis showing that the vacancy rates across the Valley continued to increase during the first quarter in office (22.8 percent), retail (9.7 percent) and industrial (14.5 percent) space.  However, as of now, no further commercial real estate assistance measures are pending in the U.S. Senate, as many are hopeful that once the TALF system begins to get rolling, lenders will being to loan money on commercial real estate assets and be more flexible by extending terms and offering modifications to existing borrowers, which will help to stabilize and improve the commercial real estate market.  Stay tuned for more developments.  For more information please contact Scott J. Stein at (480) 889-8948 / scott@steinlawplc.com and visit www.steinlawplc.com.

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