Office market troubles on the rise as loan payoff rate sinks below 70%

📆 6-9-2023 23:07:00
📰 MarketWatch

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A credit crunch is hitting office landlords hard with mortgage debt coming due, causing a smaller share of loans to repay on time, according to Deutsche Bank...

A credit crunch for landlords with maturing mortgage debt on office buildings has dropped the rate of timely loan repayments to below 70%, according to Deutsche Bank researchers.

“The office credit crunch has reduced [the] timely office payoff rate from 93% in mid 2021 to below 70% today,” Ed Reardon’s research team at Deutsche Bank wrote, in a Wednesday client note.

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