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South Florida

Maturing loans on shaky ground

The Design Center of the Americas in Dania Beach
The Design Center of the Americas in Dania Beach

From the October issue: Just beneath the surface of Miami’s strong commercial real estate market, a cluster of troubled pre-financial crisis loans imperiled by shaky shopping centers and half-empty office parks is coming due. To complicate matters, some of these loans were packaged into commercial mortgage-backed securities by now-notorious investment banks that no longer exist — such as Lehman Brothers and Bear Stearns.

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Several of these commercial properties in the greater Miami region are showing signs of financial stress, according to CMBS data compiled for The Real Deal by New York real estate research firm Trepp. [more]

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