asu in the news 02-06-08 to - ASU News - Arizona State University
asu in the news 02-06-08 to - ASU News - Arizona State University
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JoHH VhTISTAS<br />
Chairman<br />
Equitable So<strong>the</strong>by s<br />
International Realty<br />
An excess <strong>in</strong>ven<strong>to</strong>ry of over<br />
priced homes Foreclosures<br />
vyill cont<strong>in</strong>ue Lend<strong>in</strong>g will<br />
cont<strong>in</strong>ue <strong>to</strong> tighten and make<br />
qualify<strong>in</strong>g for homes much<br />
more difficult<br />
Is <strong>the</strong> subprime mortgage meltdown <strong>in</strong> <strong>the</strong><br />
residential sec<strong>to</strong>r spill<strong>in</strong>g over <strong>in</strong><strong>to</strong> commercial<br />
<strong>in</strong>iMkctmont<br />
CRAIG HENIG<br />
Manag<strong>in</strong>g direc<strong>to</strong>r<br />
CB Richard Ellis<br />
The commercial sec<strong>to</strong>rv<br />
def<strong>in</strong>itely is feel<strong>in</strong>g <strong>the</strong> ef<br />
fects from <strong>the</strong> fallout of <strong>the</strong><br />
subprime debacle Unlike <strong>the</strong><br />
days of <strong>the</strong> Resolution Trust<br />
Corp <strong>the</strong>re is an abundance<br />
at capital wait<strong>in</strong>g on <strong>the</strong> sidel<strong>in</strong>es wait<strong>in</strong>g <strong>to</strong><br />
see when <strong>the</strong> Dric<strong>in</strong>e has hit bot<strong>to</strong>m<br />
CRAIG COPPOLA<br />
Pr<strong>in</strong>cipal<br />
Lee Associates<br />
Yes Gett<strong>in</strong>g debt is harder<br />
and more expensive Tenants<br />
are clos<strong>in</strong>g shop or subleas<br />
<strong>in</strong>g mak<strong>in</strong>g <strong>the</strong> market softer<br />
Buyer confidence over <strong>the</strong><br />
next year is shaken creat<strong>in</strong>g a<br />
i ai i iru ic dm irnnmant<br />
CARTER FROELICH<br />
Manag<strong>in</strong>g pr<strong>in</strong>cipal<br />
Development Plann<strong>in</strong>g F<strong>in</strong>anc<strong>in</strong>g Group Inc<br />
It has affected liquidity at all levels of<br />
<strong>in</strong>vestment As a result lenders are rais<strong>in</strong>g<br />
Bus<strong>in</strong>ess Journal Phoenix<br />
Circulation: 15270<br />
DMA: Phoenix, AZ<br />
underwrit<strong>in</strong>g standards on<br />
all product types <strong>in</strong>clud<br />
<strong>in</strong>g commercial properties<br />
Never<strong>the</strong>less <strong>the</strong> Federal<br />
Reserve is signal<strong>in</strong>g <strong>to</strong> banks<br />
through its cont<strong>in</strong>ued lower<br />
<strong>in</strong>g of <strong>the</strong> discount rate that<br />
<strong>the</strong>y should cont<strong>in</strong>ue <strong>to</strong> lend<br />
money <strong>to</strong> those who are<br />
qualified<br />
LIU The subprime mortgage meltdown is<br />
mak<strong>in</strong>g it harder <strong>to</strong> obta<strong>in</strong> f<strong>in</strong>anc<strong>in</strong>g s<strong>in</strong>ce<br />
a lot of <strong>the</strong> subprime stuff was roiled <strong>in</strong><strong>to</strong><br />
a collateralized debt obligation which In<br />
turn was rolled <strong>in</strong><strong>to</strong> a structured <strong>in</strong>vest<br />
ment vehicle which was backed by asset<br />
backed commercial paper They will have<br />
<strong>to</strong> ref<strong>in</strong>ance this ABCP and<strong>the</strong> question Is<br />
where <strong>the</strong> money <strong>to</strong> ref<strong>in</strong>ance <strong>the</strong>se deals<br />
will come from<br />
VATISTAS It already has Commercial lenders<br />
are becom<strong>in</strong>g much more conservative and<br />
skittish It will affect <strong>the</strong> cash required <strong>to</strong><br />
develop more speculative type properties<br />
Lenders are look<strong>in</strong>g for much more sk<strong>in</strong> <strong>in</strong><br />
<strong>the</strong> game<br />
How much will foreign <strong>in</strong>vestment come hr<strong>to</strong><br />
play <strong>in</strong> Phoenix<br />
JfPP DAtToH<br />
© Copyright 12/28/2007 Bus<strong>in</strong>ess Journal Phoenix Cision USA, Inc.<br />
All Rights Reserved.<br />
Unlicensed Reproduction, Sale or Republication Prohibited.<br />
City: Phoenix<br />
<strong>State</strong>: AZ<br />
Vice president and Southwest<br />
division manager<br />
JEDun i Construction<br />
Foreign <strong>in</strong>vestment will<br />
cont<strong>in</strong>ue <strong>to</strong> <strong>in</strong>crease as <strong>the</strong><br />
dollar loses value <strong>in</strong>ternation<br />
ally Currently we are work<strong>in</strong>g<br />
with <strong>in</strong>ves<strong>to</strong>rs from Israel and<br />
Account: 2565G0<br />
Date: 12/28/2007<br />
Pub Num: 12B745<br />
Section/Page: FRONTCOVR<br />
Page Count: 2 / 4<br />
Chile and f<strong>in</strong>ancial <strong>in</strong>stitutions <strong>in</strong> Europe<br />
When a foreign firm makes a decision <strong>to</strong><br />
come <strong>to</strong> <strong>the</strong> U S Phoenix is one of <strong>the</strong> <strong>to</strong>p<br />
candidates We have a great comb<strong>in</strong>ation of<br />
wea<strong>the</strong>r work force population growth and<br />
overall cost of liv<strong>in</strong>g<br />
RefNo: 3312a0
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