REIT Gains Mask Trouble Commercial Landlords Face
Judging just by the strong rise of real estate investment trust shares, it would appear a safe wager that commercial properties are rebounding from flagging fundamentals and a 40% drop in property values from the peak more than two years ago. But there's more to it. Commercial real estate remains a minefield, with worsening loan losses. "There are going to be a ton of defaults -- it's inevitable," said Alan Zafran, partner in the Menlo Park,
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