Commercial Real Estate Shock as Office CMBS Defaults Hit 11.7%

TLDR: Office CMBS delinquency rate reached 11.7%, surpassing all prior records, including the Financial Crisis. Higher interest rates and weak office demand have disrupted refinancing across U.S. office markets. Large office defaults in major cities accelerated the rise in CMBS delinquencies. Losses are spreading across global investors as distressed office debt exits bank balance sheets. [...]

The post Commercial Real Estate Shock as Office CMBS Defaults Hit 11.7% appeared first on Blockonomi.