Tag

Commercial Properties

All articles tagged with #commercial properties

financeeconomy1 year ago•1 min saved

"Banks Brace for Real Estate Crisis Amid 'Zombie Offices' and Investor Fears"

Banks like NY Community Bancorp (NYCB), PBB, and Aareal are feeling the impact of the real estate crisis, with NYCB being downgraded to junk status by Moody's and bonds of PBB and Aareal plummeting due to their exposure to US commercial real estate. The aftermath of the collapse of Credit Suisse in March 2023 is indicating a longer-lasting banking crisis, following the downfall of other banks such as Silicon Valley Bank and Signature Bank in the US.

via Bloomberg|

#banks #commercial-properties #financeeconomy

business2 years ago•5 min saved

San Francisco Properties at Risk of Mortgage Default.

Several of San Francisco's most valuable properties, including One Market Plaza and 555 California St., face mortgage payment deadlines in the next year. Despite the city's challenges, owners of these properties are confident about paying off loans and say there is high demand for their buildings. Stonestown Galleria, another big mall, is facing a $180 million loan deadline in October, but owner Brookfield says it feels "comfortable" addressing the loan. The market faces immense challenges as loans come due, and weakening demand plus rising interest rates make it challenging to refinance loans.

via San Francisco Chronicle|

#brookfield #business #commercial-properties