US - Commercial Real Estate & Reits

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"Severe Crash" Looms For CRE Office Towers, Turmoil Lasting Years, Bloomberg Survey Finds
https://www.zerohedge.com/markets/sever ... -users-say


Blackstone's Massive CRE REIT Records Eleven Months Of Outflows
https://www.zerohedge.com/markets/black ... s-outflows

[winston]

Distressed US commercial real estate neared US$80 billion

The value of distressed US commercial real estate neared US$80 billion in the third quarter, its highest level in a decade, as rising interest rates and sagging office demand shook the property market.

The value of buildings in bankruptcy, repossessed by lenders or in the process of liquidation increased by a net US$5.6 billion in the quarter, MSCI Real Assets reported.

Office properties accounted for 41 per cent of the US$79.7 billion total. The office sector, battered by remote work and declining tenant demand for space, “continued to be the driving force behind growing distress, providing 93 per cent of the additional balance for the quarter,” MCSI said in the report.

While the level of distress is still less than half of that reached in the depths of the global financial crisis, MSCI identified US$215.7 billion of properties that are potentially troubled, with issues such as delinquent payments or slow lease-ups.

Apartment buildings accounted for almost a third of those at-risk properties – “likely a function of the greater number of multifamily assets” rather than a crumbling of the sector, MSCI said.

US commercial-property values fell 9 per cent in the year through September, and total transactions plunged 53 per cent, MSCI reported separately.

Source: Phillips

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Huge San Fran Apartment Building Reportedly Loses 50% Of Value As CRE Market Tanks
https://www.zerohedge.com/markets/huge- ... rket-tanks

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Office buildings lack interest; CNBC: America’s major cities may be trapped in a death spiral

辦公大樓乏人問津 CNBC:美國大城市恐陷死循環｜FOCUS午間新聞 20231024 @tvbsfocus

https://m.youtube.com/watch?v=Unomh_S3gT0

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Industrial CMBS Delinquency Soars As 'Deep Freeze' Hits CRE Market
https://www.zerohedge.com/markets/indus ... cre-market

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"Tough Place": Implosion Of Downtown San Francisco Forces McDonald's To Close After 30 Years
https://www.zerohedge.com/markets/tough ... r-30-years

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Commercial real estate is going to fade into obscurity
https://twitter.com/FinancialPhys/statu ... 4164823191

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Blackstone's Flagship BREIT Gates Redemption Requests For 13 Consecutive Months
https://www.zerohedge.com/markets/black ... ive-months

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"Here Comes The Cliff!": Carson Block Shorts Blackstone Mortgage REIT As 'Liquidity Crisis' Risks Mount
https://www.zerohedge.com/markets/here- ... isks-mount

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23% of US office space is vacant, and landlords are beginning to default
https://twitter.com/Mayhem4Markets/stat ... 0865939857