Full coverage of commercial real estate finance, including commercial banks, life insurance companies, government sponsored enterprises, bridge and mezzanine lenders and other debt sources.
If the saga at Silicon Valley Bank hastens the arrival of the next recession, expect to see many more properties go into default sooner rather than later. This is bad news for lenders because they have ramped up their financing of real estate.
Banks are being compelled to pull back from real estate lending in the face of falling values and the imminent introduction of new Basel III rules that introduce a minimum capital floor.
A large number of older offices will fail to lure back workers in the post-Covid era, making them less attractive to occupiers and spurring a wave of defaults, according to Daniel McNamara, founder of Polpo Capital Management.
American Dream’s owner Triple Five Group agreed to make the payments in lieu of real estate taxes to the borough of East Rutherford on land surrounding the mall in exchange for rights to build a hotel, minor league baseball stadium and offices.
The payment-in-kind option for part of the loan, is an arrangement being considered by lenders including Apollo, Blackstone and Oaktree Capital Management.
The private equity firm had sought an extension from holders of the securitized notes to allow time to dispose of assets and repay the debt, according to people with knowledge of the plan. Market volatility triggered by the war in Ukraine and...
In addition to analyzing the economics of a distressed position, real estate owners must consider the tax implications of the various outcomes surrounding debt. In the worst-case scenario of a foreclosure, not only can an owner lose a property...
Higher rates have ramped up the pressure on commercial landlords, causing extensions to become costlier. Debt service costs for the San Francisco properties have increased 38% since the loan’s origination, according to a February report on the...
