The Real Deal New York

Are retail’s biggest lenders too exposed?

A look at some recent high-profile deals and how they’re panning out

July 07, 2016 08:30AM
By Rich Bockmann

Thor Equities is still looking for a tenant for its retail space at 680 Madison Ave.

Thor Equities is still looking for a tenant for its retail space at 680 Madison Avenue

From the July issue: After a run-up in pricing that even some of the industry’s most bullish observers find head spinning, Manhattan’s luxury retail market is starting to show cracks, and that could put its most active lenders on the line.

Big banks such as Wells Fargo, Bank of America, Deutsche Bank and France’s Crédit Agricole, as well as regional lenders such as M&T Bank and Signature Bank, are sitting on top of the largest loads of debt issued on Manhattan retail properties, according to data provided by research firms Actovia, Trepp, CrediFi and Real Capital Analytics. While there is not a deluge of troubled loans, should the market take a deep enough turn, several of those lenders could feel the backlash, industry observers told The Real Deal. [more]

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