February 13, 2009—The Building Owners and Managers Association (BOMA) International commends the US Treasury for taking decisive action to restore liquidity to the financial system and create a functioning credit market for commercial real estate. Treasury Secretary Thomas Geithner announced a plan to unlock the nation’s frozen credit markets that includes expanding the Fed’s Term Asset-Backed Securities Loan Facility (TALF) to include newly originated AAA commercial real estate securities.
The Treasury’s new plan is a significant and positive step that will thwart potential mass foreclosures in the commercial real estate industry, says BOMA.
BOMA International has been responding to the credit crisis since it began, advocating for policymakers to enact measures to energize credit markets, restore bank lending capacity, support American businesses, create jobs and restore the economy. For more information, see its Web site.
