News
Distress Loans Holding Steady
June 27, 2011
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| Intercontinental Real Estate's Paul Nasser says that this recent Trepp data on Boston loans entering special servicing reflect constancy over time. According to Paul, the Boston CRE market is strong compared to other US locations. Thank its diverse economy, limited speculative construction and a strong educational/ healthcare/ life sciences base. Eg, Vertex's Seaport District campus. Also, Harvard will re-start a big project in Boston's Allston neighborhood. Several large scale residential projects are slated to come out of the ground in the next 12 to 36 months. Paul says all of this is due to limited speculative building, a foundation of institutional users, and a community of skilled real estate firms with deep pockets (and long arms). |
