well, we have just finished our kickoff meeting for 2009 - much of what we already know has been reinforced. 2009 will not be a kind one to commercial real estate - we should see the effects of loans made through the CMBS markets the past 5-7 years hit harder than it has the past year.

the smart buyers, the ones that have been sitting on the sidelines the past 4-5 years, should be in a fairly strong cash position to take advantage of distressed deals flowing through the pipeline.

more later…

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