Loans on Office Buildings are Increasing

Sales of loans secured by struggling commercial real estate, including offices, are gaining momentum despite resulting in financial losses. Banks, in particular, are increasingly putting more loans secured by office buildings and other commercial properties on the market compared to last year.

For instance, the Canadian Imperial Bank of Commerce (CIBC) agreed to sell $316 million worth of loans on office buildings in Austin, Phoenix, Seattle, and San Francisco at a discounted price, according to the Financial Post. Additionally, Bloomberg recently reported that investment bank Morgan Stanley (MS) plans to purchase approximately $700 million of commercial real estate loans from a group including Blackstone (BX), Rialto Capital, and the Canada Pension Plan Investment Board. These CRE loans had previously been held by the now-defunct Signature Bank.

For more information about New Jersey, Pennsylvania or New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to WCRE, is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage firm that specializes in healthcare, office, retail, land, industrial, and investment properties.

WCRE is a full-service CORFAC International brokerage, and advisory firm that provides a full range commercial real estate listings, services and property management services for landlords, owners, investors, tenants and more.

As experts in tri-state region, the WCRE team provides ongoing detailed information about commercial properties to our clients and prospects to help them achieve their commercial real estate goals.