Friday, February 26, 2010

Climateer Line of the Day: Commercial Real Estate Due Diligence Edition

From the Minyanville post "Commercial Real Estate: Five Facts from a Broker":
...The lenders’ “due diligence” has changed from “What’s the building worth? $100 million? Okay here's a loan for $120 million,"


“...and our 30-day ransacking of your offices by our team of forensic accountants, will conclude with a rectal exam of all the “C” level officers in your firm."