Courtesy of Harmon Properties Harmon Corners, a retail property that topped out recently in Las Vegas, is financed with the developer's own money. Related Links: Video Interview with Barclays Analyst on Commercial Mortgage-Backed Securities Tight-Fisted Banks Stall Development (ENR 2009) Goldman-Citi Offering Is Pulled Over Ratings The comeback of the commercial mortgage-backed securities sector, which reached a high of $230 billion in new issues in 2007 but then collapsed in the turmoil that hit financial markets in 2008, has run into big trouble."There are economic headwinds that are causing a slowdown in the pipeline,” says Steve Renna, chief executive officer
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.