More than $38b of U.S. office buildings are threatened by defaults, foreclosures or other forms of distress, according to data firm MSCI. That is the highest amount since the fourth quarter of 2012 in the aftermath of the 2008-2009 financial crisis.
| less than a minute read
Office-loan defaults near historic levels with billions on the line
“Tenants are very focused on landlords who can put additional capital into the buildings because they want to get their employees back,” said Adam Edwards, managing director at real-estate investment banking firm Eastdil Secured.
