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Floating Rate Borrowers Face Mounting Pressure

Floating rates at more than 20-year highs have begun to turn the screws on commercial borrowers. So reports the Richmond Times-Dispatch.

arrow 306811 640 smallMultifamily syndicators, who raised assets with pledges of flipping properties in two or three years following improvements and rent hikes, are in an especially tight spot as rates rise.

About 75% of floating rate CLO loans issued the last two years were backed by multifamily properties, according to Commercial Mortgage Alert data.

Read the full article from Richmond Times-Dispatch.

 

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