“The sad fact is that many of these assets are healthy performing assets,” said Dan Fasulo, managing director of Real Capital. “Conditions have changed so much in the lending arena that many owners are going to have significant troubles refinancing.”
Wednesday, July 29, 2009
$1.3 Trillion CRE Mortgages underwater
Bloomberg reports that roughly 1/3rd of the CRE mortgage market is underwater, but points out that many are still cash flowing just fine.