Over $300 billion in CMBS loans will need to be refinanced between now and 2017. These are loans that were made at the height of the bubble and the day of reckoning is upon many commercial real estate owners. In this Daily Business Review article, Nelwyn Inman says she sees many borrowers faced with the inability to reposition aging assets due to growing demands of new and renewal tenants in multifamily, office and retail properties.
"With maturity defaults increasing," Ms. Inman said, "we expect this issue to hamper what might otherwise be simple transitions into replacement financing on older properties at a time when the demand for updated space crosses paths with competitive pricing pressures in most secondary and tertiary markets in the Southeast."
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