Lenders' Insatiable Appetite for Commercial Real Estate
Equity Residential Gets Archstone Bid Extension | by Ilaina Jonas
Reuters writes: Equity Residential, one of the largest US apartment owners, said it has been granted more time to submit a bid for 26.5 percent of smaller rival Archstone, albeit at a higher minimum price of nearly $1.5 billion ... Apartments have been the brightest sector within the US commercial real estate, with rents rising strongly. Meanwhile new construction has remained at its lowest levels in nearly 20 years, according to Chandan Economics.
Read the complete story at the Reuters website.