A loan on an office property coming up to maturity isn't the same as having a mobster walking into your business, asking about payment, and remarking how it would be terribly if something bad happened to the place.
But the feeling of many investors, owners, and developers in the office space may feel eerily similar. Given the state of current interest rates and terms, many CRE loans that are coming to maturity are facing an uncomfortable squeeze.
Commercial Edge reports that in the next three years, 9,500 buildings, or about 17% of all office stock, will be up for renewal. The amount of space with loans maturing over the next three years will hold at about 380 million square feet. That doesn't mean things will be pleasant.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
