Mortgage meltdown hits office properties

The credit crunch caused by the subprime-mortgage meltdown is now hitting the office building market in Boston, industry officials and the Federal Reserve of Boston warned.
“There’s a real lack of liquidity,” said Alan Leventhal, chief executive of Beacon Capital, a major Boston real estate investor with holdings in Boston and across the country. Leventhal said sales of office buildings are slowing due to tougher loan requirements - and it could get harder to find financing for new developments in Boston and elsewhere.