Shop Talk: A Conversation with Joe Azrack
To shed some light and perspective on the current commercial real estate industry state of affairs, Institutional Real Estate, Inc. editorial director Larry Gray spoke with prominent and long-time industry executive Joe Azrack, former president and CEO at Citi Property Investors, one-time head of AEW Capital Management and current managing partner of real estate for Apollo Global Management.
Will any of the tactics in the federal government bailout plan help to facilitate commercial real estate lending and add some liquidity to the market? What else needs to be done to fix what currently ails the market?
I think the thing to remember is that these are still early days for the new administration. Once the TALF — the Term Asset Lending Facility — is implemented and starts receiving new-issue commercial mortgage–backed securities, and particularly if the program is extended to include existing securities, that will be very helpful in providing som