| More capital is needed for commercial property borrowers as $1 trillion in debt matures over the next three years, according to Michael Boxer of investment firm Ramius LLC. Refinancing won’t be possible for 77 percent of loans arranged during the height of the property boom, said Boxer, a Ramius partner.
That will leave a “very big gap,” that needs to be filled, said Boxer, head of real-estate related investments at the New York-based firm, which manages $10.3 billion including more than $2 billion of property assets...............................................Full Article: Source |