"Current Status of Commercial Real Estate Market and Federal Programs to facilitate their Recovery"
Excerpts of comments to be given by Peter Monroe at the Distressed Asset Commercial Real Estate Summit East on November 5, 2009 in New York City
In these remarks, which have been requested to have been converted to an article, Mr Monroe will discuss the reality of the oncoming tsunami facing the commercial real estate market in all product lines and the likely efficacy of federal programs designed to prevent it. Mr. Monroe has been invited to extend these remarks at the 2009 Distressed Servicing Conference's "Governmental Intervention in the Global Housing Finance Crisis" seminar in Austin, Texas on November 17.
"Banking on Recovery"
"Banking on Recovery" An op-ed by NREV Chairman and CEO Peter Monroe featured in the St. Petersburg Times. The Op-ed provides an historical context to the current commercial market meltdown and analyses the new PPIP Legacy Loan and securities programs proposed by the Treasury Department.
Peter Monroe, new plans for financial system reform
Fox Business News interviewed Peter Monroe on new plans for financial system reform with emphasis upon the newly proposed PPIP programs proposed by the Treasury Department.
[foxbusiness.com]American Banker Viewpoint article, "RTC Provides a Blueprint for Solving Crisis"
An American Banker article, "RTC Provides a Blueprint for Solving Crisis" contrasts the past successes of the RTC with the Bush Administration's propping of banks; and providing no oversight to the $700 billion TARP program. The article was written by NREV Chairman and CEO Peter Monroe.
The Future of Commercial Mortgages
NREV Chairman and CEO, Peter Monroe gave an interview about the future of Shopping Center Mortgages.
"The next financial tsunami to hit will be the widespread failure of shopping center mortgages," says Peter Monroe, co-chair of REOMAC, a not for profit trade association. "Half a trillion dollars of commercial loans financed on historically low rates, are due for refinancing in the next three years," says Monroe. "The negative impact of these shopping center mortgages is enormous."
[cnbc.com]
The Threat of Carried Interest Legislation?
This article appeared in the Southeast Real Estate Journal immediately after the House had passed the abolition of "Carried Interest" and was used by real estate groups and concerned Senators to defeat the parallel bill in the Senate. Most real estate practitioners do not realize that "carried interest" is the means whereby risk-taking general partners can, through both risk and sweat equity, receive a higher percentage of profits than that attributable to the amount of capital that they contributed. Legislation that would abolish carried interest is back before the Congress and is in danger of being passed in 2010. It would damage both venture and real estate development risk taking, which would be disastrous to the economy's recovery.
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