S&P signals concerns on office property refinancing risk
Most focus in US commercial real estate has been on the ailing retail sector, but S&P Global Ratings analysts said this week that the office sector was worth a closer look, as the largest quarter in the CMBS maturity wall gets under way this month.
At $5.1bn, loans on office properties comprise the largest portion of the $16bn of loan maturities this month. Of the total amount, $6.2bn (38.6%) has either been prepaid or paid off during the last quarter, according to a note from S&P analysts on Tuesday.
The analysts said that,
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