ATLANTA—Earlier this month, I reported on how tighter underwriting demands are impacting lending. But just how much?
Well, consider the landscape. It's no secret that over $300 billion in CMBS loans will need to be refinanced between now and 2017. These are loans that were made at the height of the bubble and the day of reckoning is upon many commercial real estate owners.
Nevertheless, we're seeing deals getting done. In March, a private family interest in Brazil won a $95 million acquisition loan for a portfolio of five single-tenant office buildings—all occupied by Wells Fargo. Located in Georgia, North Carolina, South Carolina and Virginia, the buildings span 1.6 million square feet. And that's just one example.
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