Jun
22

Distressed CRE Drops by 11%

By
– GlobeSt.com

Delta Associates will be releasing figures this week that show the current total value of distressed commercial real estate nationwide at $166.8 billion. This number, compiled with data from Real Capital Analytics–which includes properties in distress, foreclosure and lender REO–represents an 11% decrease from the last report in March. At that time, the total value of distressed commercial real estate was $187.4 billion–an increase of 10% or $17.3 billion–since the January report and 33%, or $46.9 billion, from the November 2009 report.

So has the commercial real estate industry reached, finally, the bottom and is now beginning a turnaround? Maybe or maybe not is the disappointing answer–with an emphasis on maybe not. “There has been a slowdown in distressed assets for a couple of reasons,” Delta Associates head Greg Leisch tells GlobeSt.com. “Lenders are continuing to work with borrowers to extend loans.

ARTICLE SHORTENED DUE TO LENGTH….

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