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Top related persons:
Stephen Buschbom - 2 Realty - 1 Michael Maturo - 1 we'd - 1 Maturo - 1 Jack Terzi - 1 Terzi - 1 Jamie Woodwell - 1
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New - 1 Aareal Bank - 1 Business - 1 JTRE Holdings - 1 Mortgage Bankers Association - 1 Treasury Department - 1 Bank of America - 1 601W Companies - 1

Search resuls for: "Stephen Buschbom"


5 mentions found


☆ The 4% mortgage rate and other sweet offers from lenders hoping to stave off commercial real estate doom
  + stars: | 2024-03-27 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +8 min
Instead a deal is now being negotiated to trim the size of the property's $240 million mortgage and potentially extend the loan at below-market interest rates in an attempt to revive the property's fortunes. The negotiations show that as hundreds of billions of dollars of commercial real estate debts come due or have already tumbled into default, deals are being arranged behind the scenes to try to stave off financial catastrophe. More borrowers and lenders have sought to buy timeThere is mounting evidence that such negotiations are taking place more widely. There have been concerns that trillions of dollars of upcoming commercial property debt maturities could inflict heavy losses that could weigh on investors and lenders across the property market and even cause systemic issues in the banking sector. The deal is part of a growing number of sales by some lenders to cut down their exposure to commercial real estate.
Persons: Realty, Michael Maturo, we'd, Maturo, Jack Terzi, Terzi, Jamie Woodwell, Stephen Buschbom, Trepp, Alan Todd, David Blumberg, Raymond Boyd, Blumberg, Robert Ivanhoe, Greenberg Traurig, Ivanhoe Organizations: New, Aareal Bank, Business, JTRE Holdings, Mortgage Bankers Association, Treasury Department, Bank of America, 601W Companies, Aon, Aon Center, Federal Reserve Locations: New York, Lower Manhattan, Manhattan, New York City, Chicago
☆ As Rite Aid's bankruptcy shutters drugstores, these retailers will benefit
  + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com   time to read: +7 min
Rite Aid's bankruptcy is likely to be a bigger boost to retailers such as Walmart and Costco than it will be to other drugstore chains, according to UBS. And as drugstore closures accelerate, dollar stores may be able to scoop up some of the abandoned locations. Discount chains Dollar Tree and Dollar General could also benefit from drugstore closures. Dollar stores, in particular, could also expand into store fronts once operated by drugstore chains. For dollar stores, the real advantage will be the real estate left behind.
Persons: Michael Lasser, it's, Lasser, Stephen Buschbom, Buschbom, Gordon Haskett, we've Organizations: Walmart, Costco, UBS, Rite Aid, CVS Health, Walgreens, CVS, Kroger, Target, KR, Wall Street, FactSet, Albertsons, HSBC Locations: U.S
☆ Analysis: Overexposed US regional banks could sell commercial property loans
  + stars: | 2023-05-17 | by ( Matt Tracy | ) www.reuters.com   time to read: +5 min
Still, previously unreported data from New York-based real estate data provider Trepp, shared with Reuters, show many regional banks' holdings exceed thresholds stipulated by regulators. While big banks have recently warned about CRE exposure, the new Trepp data underscores how acute and widespread the problem is across the banking sector. The regulatory guidance requires that banks exceeding these thresholds "should employ heightened risk management practices," including potential sales of specific loans. Meanwhile, New York Community Bancorp (NYCB.N) and Flagstar Bank [RIC:RIC:FBCANK.UL] were among the top five banks listed by Trepp that exceeded the CRE loan threshold. In Tuesday congressional testimony, FDIC chair Martin Gruenberg warned CRE loan portfolios "face challenges" should market conditions persist.
☆ U.S. banks highlight office real estate as next big worry
  + stars: | 2023-04-14 | by ( Matt Tracy Saeed Azhar | Matt Tracy | Saeed Azhar | ) www.reuters.com   time to read: +4 min
"Weakness continues to develop in commercial real estate office," Wells Fargo Chief Executive Charlie Scharf said on a call with analysts. Stress in the commercial real estate sector could have broad implications for banks and the economy, as losses emanating there can tighten credit availability and exacerbate a downturn. More than $1.4 trillion in U.S. CRE loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp. As the epicenter for the technology industry downturn, California's CRE market has been hit hard. Citigroup and Wells Fargo declined to comment for this article.
☆ The growing number of distressed office buildings reflects a recognition by owners and lenders that the robust return to office they had hoped for isn't likely to materialize
  + stars: | 2023-02-22 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +5 min
Office owners like Brookfield, RXR, and Related are in the process of defaulting on office loans. Some of real estate's biggest names have defaulted on their office debt in recent weeks. The delinquency rate for office loans is only 1.83% now, according to Trepp, a firm that researches real-estate debt. Loans come dueOver this year and next year, 24% of commercial real estate loans will be coming due, many of them office loans, per Hendry. Office buildings, from the newest and shiniest Class A towers to the older and less-sexy Class B buildings, were a pretty safe investment, as long as they were in the right locales.
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