US office owners are facing a significant challenge as $117 billion in debt repayments for big office buildings are due this year. The struggle to refinance this debt is exacerbated by higher interest rates, posing a threat to the US economy and small and medium-sized banks. Cities like NYC and SF are particularly affected by the heavy commercial real estate office debt-loads.
NYC & SF Dominate The US Cities With The Heaviest CRE Office Debt-Loads https://t.co/uU6lIQAcKx
NEW: 💵 $117B in commercial real estate loans will come due in 2024, posing a threat to small and medium-sized banks, as these loans, originated during low-interest periods, could become problematic due to rising rates and underperforming returns in 2024.per Financial Times 👀 https://t.co/VSrAtGa2CH
Interest Rate Avalanche: US Office Buildings Brace For $117B Debt Cliff https://t.co/sONjS8MG10
Good morning, Asia. While you were sleeping, our most-read story was about owners of big US office buildings struggling to refinance billions of dollars in debt that come due this year amid higher interest rates https://t.co/v4Nncf27TV
US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty https://t.co/BupRiSNh4j https://t.co/Tt698PWYSq
US office owners face $117bn wall of debt repayments https://t.co/EsupYC8o4e