http://www.blumbergcapitalpartners.com

REUTERS June 23. - Blumberg Capital Partners says commercial real estate "will be another real stomach blow" to commercial banks where writedowns could be more than 50-percent.

Philip Blumberg, speaking at the 2009 Global Real Estate Summit in New York, says "it's no wonder why these commercial banks aren't lending." Separately, Blumberg says he expects to make some investments in the London property market where "they've taken writedowns and are closer to the bottom." (less info)