EYSTER PROPERTIES, INC.
EYSTER PROPERTIES, INC. | From the Floor of ICSC | ||
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May 22, 2009 From the Floor of ICSC
What's the talk on the ICSC floor? The largest gathering of retailers, retail developers, and retail brokers I've heard is much smaller this year. Never the less, if you are a retailer it's the place to be. Our own Rick Davidson was quoted in the NREI Publication by stating the following:
“People in the industry are saying, ‘There are $300 billion worth of loans coming due. Where is the $300 billion going to come from? We don’t have enough capital.’ First of all, we do have a problem. We don’t have enough cash. But we’re not going to be replacing $300 billion [of maturing debt] with another $300 billion. We’ll be replacing $300 billion with $200 billion. Why? We’re deleveraging. One of two things is going to have to happen: Lenders are going to have to write off part of their loans, or we’re going to have to raise more equity.”
Others have been quoted on the floor of ICSC. Go to the article for a quick look.
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