The capital markets are starting to fuel commercial real estate transactions again, says Thomas Flexner, global head of real estate with Citigroup. After a long slog, the CMBS market is showing signs of new life. For their part, the equity markets, all along, have been steadily supporting REITs. Now, REITs are returning to the equity markets for a third wave offerings, which they are using to fund acquisitions, he says.

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