Heitman chief executive officer Maury Tognarelli warned that the need for US banks to protect their balance sheets, coupled with regulatory pressure, is preventing financial institutions from foreclosing on troubled assets. This phenomenon could last up to four years, he said, but opportunities for deals should emerge in the next 12 to 18 months.
The US real estate market can expect another three to four years of the so-called “extend and pretend” pattern, said Heitman chief executive officer Maury Tognarelli.
Speaking at the Old Mutual Asset Management Risk and Opportunities panel in New York today, Tognarelli said that regulatory pressure, low interest rates and the need for banks to protect their balance sheets was responsible for the phenomenon.
Speaking at the Old Mutual Asset Management Risk and Opportunities panel in New York today, Tognarelli said that regulatory pressure, low interest rates and the need for banks to protect their balance sheets was responsible for the phenomenon.
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