With $1.2 trillion in commercial real estate debt scheduled to mature over the next few years and most U.S. banks unable or unwilling to extend new credit, the need for large amounts of private commercial capital has never been greater
Scottsdale (PRWEB) September 1, 2010
The recent surge in bank failures is worsening the nation’s liquidity crisis and may trigger more bankruptcies for commercial real estate owners in need of financing, according to Andy Bogdanoff, chairman of Remington Capital.
“With $1.2 trillion in commercial real estate debt scheduled to mature over the next few years and most U.S. banks unable or unwilling to extend new credit, the need for large amounts of private commercial capital has never been greater,” Bogdanoff said.
Remington is an international commercial real estate investment banking company, specializing in providing access to a global network of commercial capital sources, including hundreds of active private lenders and investors. Since 1993, Remington has arranged more than $5 billion in financing across the capital stack for all types of commercial property.
“There have been about 250 bank failures involving hundreds of billions of dollars in assets since the start of the financial crisis in 2007,” Bogdanoff said. “And with hundreds of additional bank failures expected over the next few years, many commercial real estate owners may be unable to finance or refinance properties through traditional banking sources.
“Alternatively, there are billions of dollars in private capital available waiting on the sidelines from lenders and investors ready to step in to finance, refinance or recapitalize all types of commercial property having intrinsic value,” Bogdanoff said. “Over the years, Remington has built solid relationships with hundreds of these capital sources, including private equity funds, institutional and individual investors, certain corporations and many others.
“This available pool of alternative capital represents a unique opportunity for the commercial real estate community to step outside its normal comfort zone and explore new avenues of commercial financing in these challenging times.”
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Contact: Neil Wintle
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