Quote:
Originally Posted by Nowhereman1280
No its not, money is oozing from every crack right now if you have decent credit and a solid proposition. Its just that most RE ventures in this market are [I]not/I] a solid proposition.
Money is so cheep right now its unbelievable...
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There is a lot of liquidity chasing quality investments, but I wouldn't say that money is oozing from every crack. Financing for this size project is beyond just a credit score and a solid proposition. Typically they would need one of the major investment banks to secure financing on this size deal. Apparently its not going to be Bear Stearns.
Fortunately, it sounds like there is pension money lined up for this project.