Financial Services >> Analyst Interviews >> July 27, 2009

Outlook For Reits – Merrie S. Frankel – Moody’s Investors Service

Merrie S. Frankel is a Senior Credit Officer and Vice President in the Commercial Real Estate Finance group at Moody's Investors Service, the global rating agency. At Moody's she is responsible for a ratings portfolio of over 20 real estate investment trusts and real estate operating companies in the United States and Canada. Prior to joining Moody's, Ms. Frankel was a Senior Vice President and Director of Portfolio Management for the Argo Funds, a real estate opportunity fund with $1.5 billion in assets. In addition, she has previously held positions in the commercial real estate industry at Ernst & Young Kenneth Leventhal Real Estate Group, Cushman & Wakefield Inc., J.P. Morgan Securities Inc. and Salomon Brothers Inc. She is a trustee of the Urban Land Institute, an adjunct associate professor at New York University Schack Institute of Real Estate and an adjunct assistant professor at Columbia University Graduate School of Architecture Planning and Preservation. Profile
TWST: In a June industry outlook report, Moody's noted "ratings activity has

been decidedly negative" for REITs and real estate operating companies. How

extensive have the downgrades been and