Stormy Markets Cloud Next Six Months

NEW YORK CITY-The financial market volatility seems to have increased in recent months, with various financial institutions reporting record losses. Real Estate finance law firm Morrison & Foerster LLP, held its fourth real estate investing seminar held Tuesday morning at the Sheraton New York Towers to discuss aspects of investing in the year ahead in an attempt to get some predictions from experts as to when the storm will pass.

Attorney’s Jeffrey Temple and Andrew Weiner moderated the panel of five investment bankers, advisors, and asset managers specializing in real estate including: Martin Cicco, formerly of Merrill Lynch; Michael Cochran, senior managing director of Eastdil Secured’s Management Committee; Michael Giliberto, a managing director at JPMorgan Chase; Thomas Harney, senior managing director of Bear Stearns’ Real Estate & Lodging Investment Banking Group; and John McGurk, founder of Rothchild Realty Inc.

Early on, moderator Temple queried panelists to predict what affect the Fed’s rate cuts will have on commercial real estate in the next three to six months. A majority of panelists said that it will have a positive affect, but will take a lot longer than three months to see a difference.