90 Billion In Commercial Foreclosures – REITS and Vultures Racing In
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There are alot of people going to get rich in the next couple of years.
As many real estate developers are losing buildings to the banks, a group of investors are about to pick over the failures and they are looking for deals. Commercial property values are dropping, refinancing capital is scarce, but there is one group that is raising money quickly. Real estate investment trusts.
They are putting together vulture funds to buy up the distressed and bankrupt properties. And the list of investors is growing quickly.
And there seems to be no shortage of prospective purchases. There is an estimated $90 billion in commercial real estate in the U.S. alone that is “distressed,” according to New York-based real estate research firm Real Capital Analytics. These are properties that have been foreclosed on, or whose owners are in default on their loans or in bankruptcy. “On top of those properties, there is hundreds of billions more in debt coming due in the next few years,” says Peter Slatin, editorial director at Real Capital. “Some REITs are getting prepared for that.” via CNN
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Great blog, keep the great content coming! 
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