Offerings of Commercial Distressed Assets Rising
SOURCE: Bloomberg
About $11 billion of defaulted or foreclosed commercial properties were being offered for sale last month as landlords struggled to refinance loans, Real Capital Analytics Inc. said.
About $5.7 billion worth of properties defaulted, were foreclosed upon or entered bankruptcy in February, the New York- based research firm said in a report today.
The situation “is likely to only worsen over the near term since behind the statistics are sellers that are rapidly morphing from pressured to distressed, while buyers are content to wait,” Real Capital analysts said.
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About $11 billion of defaulted or foreclosed commercial properties were being offered for sale last month as landlords struggled to refinance loans, Real Capital Analytics Inc. said.
About $5.7 billion worth of properties defaulted, were foreclosed upon or entered bankruptcy in February, the New York- based research firm said in a report today.
The situation “is likely to only worsen over the near term since behind the statistics are sellers that are rapidly morphing from pressured to distressed, while buyers are content to wait,” Real Capital analysts said.
Read full story »
