Distress is here, make no mistake, but dealmaking is still a bit away.
Lender's workout teams are staffing up, and owners are seeing the first cracks but we’re in the frozen stage. Prices have yet to fully adjust, lenders do not have clarity and therefore financing is generally either unavailable or you're going to get re-traded.
Everyone’s taking a wait-and-see approach, fully expecting things to get worse. However, there is no desire to jump the gun. For borrowers of CMBS loans where the Lender is required to start enforcement action, buying time is key to working out your loan.
#frozen #cmbsloans #crepodcast #cre #creinvent #ecoconscious #economyshift
