Some RE Investors Ditch Equity For Debt As Deal Prices Rise

Law360, New York (July 18, 2013, 7:14 PM EDT) -- New York real estate prices aren't just too high for apartment renters; experts say more major commercial investors are flipping from equity to lender positions on deals they believe are overvalued, keeping their hands on significant assets without forking over more than they think they're worth.

So far this year, Manhattan has seen three $1 billion-plus transactions in addition to multiple 10-figure bids for the Empire State Building, but it's not just trophy buildings that are seeing their values rise. As the recovery continues, investment sales...
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