Shopping Centers Today

JUL 2014

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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38 S C T / J u l y 2 0 1 4 apital sources targeting the retail real estate sector are coming away empty-handed. Dollars for acquisitions or refi- nancing are plentiful, but there are not enough deals for everyone to fund. "We found there was a pretty good drop in available product in the first quarter of 2014," said Zachary Bornstein, managing director of capi- tal markets at new York city–based olshan properties. "in 2013 there were a lot of assets trading hands at very low cap rates and high prices. on the supply side, we found the start of this year to be a bit slower." C sloW turnoVer FEw cEntErs arE traDInG DEsPItE an aBunDancE OF caPItal By Steve Bergsman as Brandon harrington, a senior vice president at Walker & Dunlop, in phoe- nix, observed: "there is more capital than collateral in the marketplace." this is unfortunate, because lenders are poised to lend. Beginning last year nearly every segment of the lending market ramped originations 38-40_SCT_JUL14_Lenders.indd 38 6/12/14 5:57 PM

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