Real Estate/Development
Nov. 19, 2011
Real estate financing shifts again
Law firms, which redeployed their CMBS dealmaking teams earlier this year when it looked like the market was heating back up, are diverting lawyers to other projects now that such loans have dried up again.
Daily Journal Staff Writer
In early June, real estate finance lawyers saw a glimmer of hope. The hammered commercial mortgage-backed securities market, which funded a quarter of U.S. commercial projects at the height of last decade's real estate boom, seemed to be turning a corner. Their deals started picking up again after the nation's bleak financial conditions pummeled CMBS as a funding tool for commercial projects.
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