Two sellers of these rental buildings are institutional lenders, who foreclosed on the buildings.

The city, which gives buyers purchase-money mortgages on the land itself, subordinates its position to an institutional lender who provides the capital for construction.

But rather than pull back, the company has financed itself by borrowing from banks and institutional lenders and selling equity securities to the public.

He said large institutional lenders and real estate investment trusts that lost money on past hotel projects were now setting stricter terms for developers.

In this hostile environment, many institutional lenders have been hurt by property deals and are loath to extend further credit.

Lenders are generally not required to include due-on-sale provisions in loans, but it is nearly universal practice for institutional lenders to include them.

Indeed, almost all of Westchester's office market, which was created by family businesses, is now owned by institutional lenders or real estate investment trusts.

No sitting President should accept loans or any other form of personal financing from anyone other than close relatives or institutional lenders.

An institutional lender should also be able to provide a longer pay-back period.

What has many institutional lenders worried right now is the same fear that concerns the high-yield bond market: a rise in corporate defaults.