Distressed CRE loans continue to rise, according to CRE data, analytics, and valuation firm CRED iQ, which reports that most of the top metropolitan statistical areas saw significant jumps of up to 2.5%.
"There were 42 markets with increases in CRE distress, equal to 84% of the 50 largest MSAs," wrote the firm. "The average increase in distress was approximately 80 basis points. Notable markets with the largest increases in distress this month included Minneapolis (+2.5%), Jacksonville (+2.0%), and San Antonio (2.0%)."
Meanwhile, the New Orleans (-1.8%) and Louisville (-1.1%) MSAs were among the few markets that exhibited month-over-month improvements in distressed rates during April 2023, it said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
