Commercial real estate's prospects improve

06/15/2010 | Reuters

Commercial real estate values have fallen during the past two years, but the worst-case scenario -- an unprecedented wave of distress -- has not occurred and is unlikely to now, according to James Koster, president of Jones Lang LaSalle's capital markets group. "We should be in a relatively good position to not have this other shoe drop," he says. Reasons for his optimism include special servicers' willingness to hold defaulting properties instead of selling them off in a fire sale as well as fresh capital coming into the market from REITs.

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