April 29, 2008
... Raphael Bostic, who directs the University of Southern California real estate development program, said many developers are having similar problems with skeptical lenders. "In a hot market there's not a lot of question over whether a layout is going to retain its value," he said. "In more volatile times, there can be some doubt."...
... Bostic said Related's difficulty obtaining loans was not likely to doom the project. "This is a really long-term exercise and everybody knew there were going to be some bumps along the way," he said...