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Article: BOMA testifies on credit crunch before Congress.(FINANCE)(Building Owners and Managers Association International)(Brief article)
- Article from:
- Real Estate Weekly
- Article date:
- August 6, 2008
CopyrightCOPYRIGHT 2008 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Building Owners and Managers Association (BOMA) International testified before a U.S. House of Representatives hearing of the Committee on Transportation and Infrastructure's Subcommittee on Economic Development, Public Buildings and Emergency Management on the effects of the credit crunch on federal leasing and construction.
Speaking before chair Eleanor Holmes Norton and members of the subcommittee, BOMA International chair Richard D. Purtell, RPA, portfolio manager, Grubb & Ellis Management Services, Inc., Cincinnati, Ohio, testified that due to the rise in delinquencies and defaults on subprime mortgages in the residential sector over the past couple ...