Grubb & Ellis president David Arena took the case for the commercial real estate bailout to the airwaves and appeared on Fox Business to discuss the particulars. The industry doesn't seem to want to use the word bailout. That makes sense. It's become a loaded word. Instead, Arena uses the word "backstop." On one hand, what groups are asking for isn't that complicated. The groups are simply asking for inclusion in an existing program. On the other hand, I think the general public is going to have a hard time accepting the notion that the commercial real estate industry needs help from the government. It will be fascinating to see how this continues to play out.
(Spotted at Square Feet Commercial Real Estate Blog.)
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