4/17/2009

The bankruptcy filing of General Growth Properties is influencing refinancing negotiations over billions of dollars' worth of commercial-property debt. A lack of credit has put a substantial chunk of the massive commercial-mortgage market at risk of default. "Where lenders have some flexibility they are certainly going to be amenable to working with the borrower rather than see a disorderly result, like bankruptcy," said Sam Chandan, president and chief economist at Real Estate Economics.

Full Story:
Reuters

Related Summaries