Private-equity firm warns banks about "black hole" of CRE

03/20/2009 | Financial Times (free content)

Leon Black, founder of the private-equity firm Apollo Management, said the problems in the U.S. commercial property market have not been fully reflected on the balance sheets of financial institutions. "You have the black hole of commercial real estate, and that hasn't happened yet," Black said. "There you are sitting with $4 trillion of debt and you know not all of it's bad, but a lot of it is diminished and that really hasn't yet been addressed."

View Full Article in:

Financial Times (free content)

Published in Brief: