Word: commerciales
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Associate Vice President of Harvard Real Estate Services James W. Gray said that while he agrees commercial real estate markets are stressed, the situation is less dire in Cambridge.
“Over the next four years, a wave of commercial real estate loan failures will add to the pressures on the struggling American economy,” said panel spokesman Peter Jackson. “$1.4 trillion in loans will come up for refinancing between 2011 and 2014...
“The Harvard Square market and the Cambridge market are a little bit insulated by the University’s presence, so I don’t foresee it being as much of a problem there,” Gray said. “Harvard owns a great...
Noting that “there are a lot of different tools in the toolbox when it comes to strategies for the threat posed by commercial real estate to the financial industry,” Jackson said the report does not recommend one specific course of action.
“The panel was clear that when it comes to the idea of injecting more capital into financial institutions,” Jackson said. “There are investors that made some bad bets in commercial real estate and everyone doesn’t deserve new funding...