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Threat of Defaults Hang Over Commercial Real Estate Biz

The $4.4 trillion U.S. commercial real estate finance business is preparing itself for defaults due to the impact from the coronavirus pandemic. So reports MarketWatch.

Ann Hambly, the founder of 1st Service Solutions, which advises borrowers in restructuring commercial mortgage-backed securities loans, drew a contrast with previous crises: “Here, the whole economy has been shut down and everybody needs help.”

While delinquencies on CMBS in March were still well off their 2012 high, Moody’s analysts have cautioned that “cash-flow stress, particularly across hotels and retail properties,” will raise defaults.

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