30.07.2009 - Real estate investors go begging
From Reuters: Investors in real estate funds can’t give their stakes away. In another sign of more bad news to come for commercial real estate, NYPPEX Private Markets reports a sharp drop in prices for limited partnership stakes in real estate funds in the unregulated secondary market. NYPPEX says the average bid for these partnership shares plunged 61% over the past month to a price that represents roughly 22 cents on the dollar.........Full Article: Source