Defaults on Apartment-Building Loans Set Record for U.S. Banks

Hi,

 

Here's a very intersting article on Bloomberg about the Commercial Real Estate market.

 

Defaults on Apartment-Building Loans Set Record for U.S. Banks

 

Defaults on apartment-building mortgages held by U.S. banks climbed to a record 4.6 percent in the first quarter, almost twice the year-earlier level, as more borrowers failed to repay debt approved near the market peak, said Real Capital Analytics Inc. in a report.

 

Defaults on so-called multifamily mortgages rose from 4.4 percent in the fourth quarter and from 2.4 percent during the same period in 2009, the New York-based real estate research firm said today. Commercial-mortgage defaults also rose in the first quarter for loans against office, retail, hotel and industrial properties, Real Capital said.

(full article...)

 

All the Best

  

Victor Lloyd Smith

Millennium Lyon Asset Management

Web:      www.mlgcap.com

 

 

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