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Commercial real estate distress is growing as more property owners struggle with their loans, and rising insurance costs are adding another challenge, especially for small landlords.
Multifamily and office loans were among the most likely to be extended.
Troubled debt restructuring reached $18 billion in the fourth quarter.
Nearly 1,000 business and civic leaders gathered at the Broward Workshop’s 17th annual State of the County Forum to review the county’s economic progress and discuss plans for the future.
A recent analysis by Moody’s reveals that for certain commercial real estate (CRE) properties, insurance expenses have doubled as a percentage of revenue since 2018.
Office has the biggest outstanding total distress but multifamily’s is potentially far larger.
Fluctuating interest rates and shifting demand are key in today’s commercial real estate market.
Loan modifications surged to $35.5 billion amid rising defaults.
PwC’s Bill Staffieri said he would put his money on it if he won the lottery.
To make matters worse, borrowing is still expensive.
Broker/President Ronald W. Osborne represents both buyers and sellers of commercial properties of all asset classes and types, focusing primarily on privately owned properties in South Florida, ranging in value from $1 to $10 million.
Sperry – RJ Realty
Phone:
954.381.0412
Email:
admin@RJ-Realty.com