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Commercial real estate in U.S. may face ‘correction,’ Apollo’s Azrack says

Posted on 04 May 2011

Azrack JosephU.S. commercial property prices may fall within a year as building owners attempt to refinance $1 trillion in mortgages, according to Joseph Azrack, head of real estate for Apollo Global Management LLC.

Rents in some cities don’t justify the rising prices being paid and may force owners to give up properties when their loans mature, Azrack said during a panel discussion yesterday at the Milken Institute Global Conference in Beverly Hills, California……………………………………….Full Article: Source


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