“There is certainly a bifurcated real estate market.” So said Andrew Kirsh, a partner at law firm Raines Feldman LLP. “If you are buying multifamily in core areas, there are plenty of aggressive lending options for borrowers. However, it is still a challenge to finance other asset classes or less concentrated geographic areas.”
Kirsh served as moderator of the capital markets panel on Thursday at RealShare Real Estate 2012, an event produced by ALM's Real Estate Media Group, which drew a crowd of roughly 900. The good news, according to Kirsh, is that there are more private lenders than ever before who are real viable alternatives for borrowers.
Kirsh’s comments were on point with other panelists and moderators throughout the day. During the industry leaders panel, for example, John B. Kilroy Jr., president and CEO of Kilroy Realty Corp. also used the word bifurcated when talking about the office market. Office is hot in some markets today, he said. In places like San Francisco, for example, its tech demand that is driving it, he said.
Read more...GlobeSt.com - Bifurcation Will Define CRE in 2012 - Daily News Article
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