Author: Stephan Giczewski
Stephan Giczewski is a senior manager in Financial Services Risk Management Advisory at Ernst & Young.
Articles by Stephan Giczewski
- Basel III Rules Likely to Affect Commercial Real Estate
Published on September 16, 2013 in Capital Markets
The banking sector has provided about half the approximately $3 trillion of outstanding commercial real estate debt, according to Federal Reserve data. However, new Basel III rules released in July may result in allocation of bank capital away from real estate and higher financing costs. As a result, developers may find future projects less attractive.