Immediate Trade

Commercial Real Estate

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Greg P
Greg P
Posted underBlackstoneBrookfield PropertiesCommercial Real EstateEconomyPIMCORecession

1.4 trillion of commercial debt is coming due in the US alone, and with the cost of borrowing being up and the value of buildings down, refinancing may not be possible for some. Many banks, lenders, and owners have to decide what to do as it is unclear how much further down it will go. While some wealthy investors are walking away from properties as a negotiating tactic, others are looking at the raw numbers and realizing that cutting their losses is better than pouring good money after bad. San Francisco has been the hardest hit in their office market as they are leading the way across the country in terms of vacancy rates, and owners of skyscrapers are starting to default on loans.

Tagged2040Commercial Real EstateDefaultsPrivate EquityRentsSan FranciscoSkyscrapers

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