As a survivor of the "devastation" of the early '90s, RioCan Real Estate Investment Trust CEO Edward Sonshine saw today's commercial real estate crisis coming and responded by cutting back on buying and bolstering refinancing. Although he is not sure what to expect in the coming year, Sonshine says REITs with strong balance sheets, such as RioCan, may find buying opportunities, while others will continue to be cash-strapped.

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