Commercial delinquencies up
May 14, 2009 01:10PMLenders are increasingly worried about the potential for billions of dollars of losses from commercial real estate loans. Delinquency rates have more than doubled for office, retail and hotel buildings in the past six months. Almost $73 billion worth of commercial real estate loans are distressed, according to Real Capital Analytics. Commercial real estate losses could reach $53 billion over the next two years, the government's bank stress tests, released last week, suggested. [AP via MSNBC]
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Comments
Anonymous
Only the beginning...this will be the other shoe that drops.
Comment #1 Posted By: Anonymous 05/14/09
Anonymous
the word in Soho is that Trump Soho is delinquent. Any one know what's going on with that building? i heard that they haven't sold anything in that building for almost two years and the loan is distressed.
Comment #2 Posted By: Anonymous 05/14/09
Former Ocwen Discount Loan Buyer
Debt trading will begin when the market standard is established for proficient acquisition of non-performing loans, a process that requires the collection and organization of large amounts of information, loss mitigation techniques, default projections, property recovery analysis, and the pricing of various resolution strategies including: loan sale, perform to maturity, discounted payoff, foreclosure, property repositioning, and property disposition.
Comment #3 Posted By: Former Ocwen Discount Loan Buyer 05/14/09
Anonymous
wow, jargon boy! how about "things will get sold once buyers figure out what to pay for them!"
Comment #4 Posted By: Anonymous 05/14/09