Wednesday, January 11, 2012

2012 Outlook on Tap at CREFC January Conference via GlobeSt

The CRE Finance Council January Conference kicked off Monday with 1,300 attendees gathering at the Loews Miami Beach Hotel to discuss what 2012 holds in store on the finance front.

Before the conference started, CREFC CEO Stephen Renna told that 2012 will offer some advantages, despite the challenges, because “there aren’t any shocks out there about what could happen.” Renna said that the main points of uncertainty center around government debt—both here in the US and abroad.

“As far as people seeing the beginning of 2012—they know what the headwinds are and they’re adapting to them,” Renna said of those working to finance real estate deals. “So with respect to CMBS, for instance, we wound up the year right about $30 billion of issuance and most people are predicting maybe $35 billion to $40 billion. They’re not predicting any huge surge but they’re not seeing right now any factors outside of the sovereign factors that I mention.”

Also on tap, Renna believes, will be the increased disposition of troubled loans, as banks look to move them off of their balance sheets. He thinks that it’s expected that these troubled loans will be disposed of much faster because bank “balance sheets have been strengthened now so they can start absorbing losses and they’ve identified those loans which they’ve extended over time that aren’t going to turn around.”

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