About $2.5 T of all types of commercial loans will have to refinance between 2024-2025. At more than likely 10%+ interest rate. AND the lenders are going to ask for 50% equity, so more cash at the refi table. Owners will hand back keys.
It’s really , really, really bad.
I foresee the multi-family market in just as bad of situation because of the huge supply from 2020-2023. The rent growth projections used the past three years for these “new construction” deals will fall tremendously short.
About $2.5 T of all types of commercial loans will have to refinance between 2024-2025. At more than likely 10%+ interest rate. AND the lenders are going to ask for 50% equity, so more cash at the refi table. Owners will hand back keys.
It’s really , really, really bad.
I foresee the multi-family market in just as bad of situation because of the huge supply from 2020-2023. The rent growth projections used the past three years for these “new construction” deals will fall tremendously short.