Some who ran across the few news items concerning "Capmark" going bankrupt may have just thought "so? Just one more entity gone bust among many these days. Ho-hum. Who's on Prancing with the Stars? I wonder...."
Remember GMAC? GMAC's former commercial real estate business (now long gone) became Capmark Financial Group.
Capmark is one of the largest commercial real estate lenders in the US.
After witnessing the collapse of the residential mortgage market, are we now seeing the start of the collapse of the business property market? Perhaps. Steep losses on these loans lie just ahead of us.....
Monday 26 October 2009
Capmark who?................from Rico
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