WeWork’s financial plight represents a further blow for the troubled commercial real estate industry that is already grappling with surplus capacity after the coronavirus pandemic sparked a surge in working from home. Even now that […]
The dark clouds over the commercial real estate market – and office buildings in particular – continue to gather as regional and community banks cut their loan exposure to the sector. Regional and community banks […]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/HQWR6PVDSVKFZEKIVGOSL7VHLI.jpg "US commercial property delinquencies rise further in July, report says")
[1/2]Buildings stand in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky July 26 (Reuters) – Nearly $12 billon of loans in U.S. commercial mortgage-backed securities (CMBS) became newly delinquent, pushing the late payment rate […]
ROCHESTER — Matthew Thomas Onofrio, a real estate investor who owns multimillion-dollar properties in Rochester, recently pleaded guilty to one count of federal bank fraud and forfeited $35.7 million stored in a Rochester bank. As […]
Stress is mounting in US commercial real estate, with distressed assets surging to $64 billion, per Bloomberg. What’s worse is that another nearly $155 billion of CRE assets are at risk of turning bad. Higher […]
Chicago’s commercial property market is in the deep freezer. Tough lending and economic conditions had many commercial property owners and investors hitting the pause button last quarter. Commercial property sales in Chicago during the first […]
This has been an opportunistic year for many private equity and lending firms. Traditional bank lending has dried up, with up to 45% of commercial real estate (CRE) projects having to find alternative funding. Many […]
Some US banks are preparing to sell off property loans at a discount even when borrowers are up to date on repayments, a sign of their determination to reduce exposure to the teetering commercial real […]
For the past 18 months or so, there’s been a steady drip-drip of reporting on how work from home is hurting commercial office space. And we just got another data point about just how badly: […]
Commercial real estate veteran Bill Katter recently began writing a new chapter in his career after 18 years with United Properties, a gig that found him working on the $450 million RBC Gateway development in […]
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