Rent 9780470626825 | The Commercial Real Estate Tsunami: A Survival Guide for Lenders, Owners, Buyers, and Brokers | Tony Wood; Foreword by: Matthew Anderson @knetbooks.com

Summary Table of Contents Author Biography

The Commercial Real Estate Tsunami is the first book to address the phenomenon of the pending wave of commercial debt maturities coming in the next five years, and the impact this maturities will have on the commercial real estate markets when combined with the historic economic crisis the world is experiencing at this time.

Praise for The Commercial Real Estate Tsunami "A clear and concise analysis of the current commercial real estate crisis." -Bill Hoffman, CEO, Trigild Incorporated "The book offers a wealth of ... MOREcritical views, engaging reportage, and hard-hitting data from leading professionals at the front lines. [Wood includes] timely advice, perspectives, and pragmatic techniques for coping with and capitalizing on this massive debt dislocation." -David J. Lynn, PhD, Managing Director, ING Clarion Partners "The Commercial Real Estate Tsunami should have a lasting place on any commercial real estate professionals bookshelf." -Michael Gottlieb, Editor, California Real Estate Journal "Those directly engaged in commercial property markets on any level will find many practical suggestions in this book to cope with these dire future events." -Anthony Downs, Senior Fellow, Metropolitan Policy Department, Brookings Institution, author of Real Estate and the Financial Crisis "What makes this book stand out is that it is more than just a warning of a challenging market, but an invaluable road map that offers specific strategies to guide brokers, clients, and others through this crisis." -Doug Frye, President and CEO, Colliers International An in-depth look at why a commercial real estate collapse is inevitable-and how to survive it The Commercial Real Estate Tsunami is the first book to address the phenomenon of the pending wave of commercial debt maturities coming in the next five years, and the impact those maturities will have on the commercial real estate markets when combined with the historic economic crisis the world is experiencing at this time. Drawing on the knowledge of recognized experts in the commercial real estate industry and financial markets, this vital guide not only explores the causes of this crisis, but offers concrete solutions and ways to mitigate the hazards that lie ahead.

An in-depth look at why a commercial real estate collapse is inevitable, and how to survive it

The Commercial Real Estate Tsunami is the first book to address the phenomenon of the pending wave of commercial debt maturities coming due in the next five years, and the impact those maturities will have on the commercial real estate markets when combined with the historic economic crisis the world is experiencing at this time.

Drawing on the knowledge of recognized experts in the commercial real estate industry and financial markets, as well as lessons learned from the commercial real estate downturns of the 1980s and 1990s, author Tony Wood fills a void in our understanding of the causes of the crisis and what to expect in the future.

Sends a warning to the commercial real estate industry, and offers concrete solutions to mitigate the risks and hazards that lie ahead
Contains the insights of a group of experts from various sectors of the commercial real estate industry
Helps market participants, including investors, developers, lenders, and brokers, gain a vitally needed perspective on where we might be going next and how we will get there

Heeding the advice and guidance of the contributors in this book will benefit anyone navigating these turbulent waters and help lead them to higher ground.

Foreword: This Time Is Different	p. xiii
Introduction: A Tsunami Warning: Between Fear and Desperation	p. xvii
Acknowledgments	p. xxi
Phases of the Tsunami	p. 1
Phase 1: Initiation (2005-2007)	p. 3
Observing a Wave of Crisis	p. 3
Under Water and Sinking Fast	p. 6
A View from Higher Ground	p. 8
Phase 2: Amplification (2007-2008)	... MOREp. 17
Setting the Stage for Drawdown	p. 17
Below the Surface	p. 19
Learning to Stay Afloat	p. 20
Showing Up on Radar	p. 25
Phase 3: Drawdown (2009)	p. 27
Watching the Water Recede	p. 27
Major Metro Market Data Surveys from CoStar Realty Information, Inc.	p. 29
Phase 4: The Run Up (2010-2013)	p. 55
Recognizing the Potential Havoc in the Market	p. 55
Excerpts from Congressional Testimony	p. 57
The Real Estate Roundtable	p. 57
The National Association of Realtors�	p. 69
The Federal Reserve	p. 73
2010 Update	p. 78
Balling Out a Sea of Debt	p. 79
Commercial Real Estate Mortgage Markets and Policy Interventions	p. 79
The CMBS Market	p. 80
The Case of Peter Cooper Village and Stuyvesant Town	p. 81
Bank Lending	p. 83
Agency Financing	p. 85
The Next Year	p. 87
Mitigation of Risks and Hazards: Survival Guide for Lenders, Owners, Buyers, and Commercial Real Estate Brokers	p. 91
Lenders: Prepare for Impact	p. 93
When the Wave Hits	p. 93
Survival Skills	p. 100
Motivations of the Special Servicer	p. 110
Commercial Loan Workouts from the Lender's Perspective	p. 110
Owners and Borrowers: Learn to Swim with the Sharks	p. 121
Pride of Ownership and Property Management Responsibilities	p. 122
Loan Workouts and Loan Modifications	p. 123
Navigating in Dangerous Waters: Expert Guidance from Commercial Loan Workout Specialist	p. 125
Commercial Loan Workouts from the Borrower's Perspective	p. 135
Buyers: Beware of Hidden Debris	p. 143
Buyers in the Tsunami Marketplace	p. 143
Be a Smart Buyer-Do Your Homework First	p. 145
Cash Is King	p. 145
Hair on the Deal-The Importance of Due Diligence	p. 146
Commercial Real Estate Brokers: Charting a New Course in a Paradigm Shift Marketplace	p. 149
Perspective and Strategy for Brokerage Firms and Brokers: A Coach's View	p. 151
The First Step	p. 157
Taking Advantage of the Recovery-Find the Opportunity Gaps	p. 159
Summary	p. 161
How to Ride a Tsunami with Expertise: Interview with Former Banker Turned Prolific Commercial Broker	p. 163
A Life Preserver for Your Family: Therapeutic Strategies for Family Survival in a Tough Economy	p. 171
Open the Lines of Communication	p. 172
Work as a Team	p. 173
Be Truthful about Finances	p. 174
Shift Your Perspective	p. 174
Open Yourself to the Idea of Change	p. 176
Define Success in the Context of Life	p. 177
Nurture the Whole Person	p. 177
Flotation Devices	p. 178
Corporate Assistance	p. 179
Conclusion: From Despondency to Optimism	p. 181
Resources	p. 183
About the Author	p. 203
Contributors	p. 205
Index	p. 209
Table of Contents provided by Ingram. All Rights Reserved.

Tony Wood is an award-winning veteran of the commercial real estate industry. With over thirty years' experience, and a successful track record as a commercial real estate broker and consultant, Wood has worked with all types of commercial property with a wide range of client profiles. His resume includes the valuation, leasing, sales, and management of office, retail, industrial, and residential income properties throughout the Western United States. Wood has been retained as a consultant to law and accounting firms and also represents lending institutions in the evaluation and disposition of their special assets and commercial REOs. He is an active leader in the commercial real estate industry and is an invited guest speaker and contributor to numerous media outlets. Wood lives in Northern California with his wife, Donna, and their three children.

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