...concern that commercial real estate prices are due for a fall after almost doubling in six years....
...Banks still play a role by lending to investment firms. ...
...The regulatory scrutiny of banks will be a boon for real estate investment firms for the foreseeable future...
...They tightened real estate lending standards in the second quarter, particularly for construction, land development and multifamily projects, according to the Fed’s senior loan officer survey, released in July....
...Companies such as Blackstone and Starwood make significantly larger loans than banks...
... It turns down multiple condo projects every week, though it doesn’t rule anything out, he said....
...“Blackstone is the largest owner of real estate in the world,” he said. “They don’t need regulators and the Fed to tell them what the state of the real estate market is.
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