Debt-ceiling Impasse Already Impacting Commercial Real Estate

Peterson_Bob ATLANTA (July 29,2011) – This week, Carter Chairman & CEO Bob Peterson discussed the impact of the debt-ceiling impasse with AJC business columnist Henry Unger. Unger also interviewed top executives from UPS, Chick-fil-A, Invesco and some of Atlanta’s largest law firms for their thoughts on the monetary morass.

Some of the top executives, including Peterson, are already noticing a financial fallout. See excerpt from article below.

Lenders are raising interest rates on some newly proposed deals in the struggling commercial real estate industry, said Bob Peterson, chairman and CEO of Atlanta-based Carter. That, in turn, has caused some property purchases to be postponed, which is not what the weak commercial market needs right now.

Because of the uncertainty, Peterson said, some commercial lenders are sitting on the sidelines.Others are starting to raise rates to cover the increased risk of the unknown.

“I’ve been seeing it over the last 48 hours,” as the gridlock intensified, Peterson said.

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