News
NEARLY $3B IN SPECIAL SERVICING
January 5, 2012
| One of the big trends in 2011 was the rise of the special servicer. (Similar in many ways to the Return of the Jedi.) And more importantly, the number of troubled loans in the region. The latest TREPP report indicates that trend isn't letting up. | ||
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| Nor should we expect an easing of distressed commercial real estate in Atlanta, says Ackerman & Co's Kris Miller (snapped at an event last year). In fact, Kris says he's seeing a ?second wave? of properties headed to default as owners who performed just after the financial crisis because the debt was below market back then are having a tough time refinancing now. ?We're going to continue to see that level of foreclosures,? he says. Trepp's latest report indicates, at least on the CMBS side, that $2.7B of the more than $12B in CRE loans in Atlanta are deliquent. | ||
