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438 million sq. ft. of global real estate

Slow Thaw:
 Credit markets will continue to be "frosty"

For more than 18 months, the commercial mortgage industry has been in a deep freeze. Now, industry experts are hoping for a thaw this year, but much has to occur  in the minds of both lenders and investors for the action to begin. 

"I think 2009 is still going to be frosty," says Jeff Friedman, co-CEO of Mesa West Capital, a privately held commercial real estate lender based in Los Angeles.

Investment Notes:

 U.S. REITs down 37% in '08

Similar to the broader market, the U.S. REIT market was down in 2008 as all sectors of the economy were affected by the credit crisis and global economic struggles. This year, the REIT market will continue to face the same challenges as other industries: the need to revitalize the frozen credit markets enabling companies to refinance debt coming due, and weathering the uncertain and challenging economy, according to the National Association of Real Estate Investment Trusts (NAREIT).

The FTSE NAREIT All REIT Index was down 37.34 percent for 2008, following a near 16 percent rebound in December. The FTSE NAREIT Equity REIT Index was down 37.73 percent for the year after gaining 16.39 percent in December.

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