Indication of continued weakness in commercial space market
Mark Heschmeyer of CoStar reports that: “Distressed CRE Assets Jump 15% at Nation’s Banks”
The amount of distressed commercial real estate assets on the books of the nation’s banks and thrifts approached $60 billion as of year-end 2009. That is up from $52 billion just three months earlier, a 15% increase. The $59.9 billion includes loans on multifamily and nonresidential income producing-properties that were 90 or more days past due, or in nonaccrual or foreclosure status.
Read the entire report at Distressed CRE Assets Jump 15% at Nation’s Banks – CoStar Group.