RCA in the commercial property press:

Community Banks See Opportunity Amid Slide

Hartford Business Journal reports: There are currently 105 troubled commercial properties worth $1.8 billion in Connecticut, up from 36 struggling properties worth $463 million at the end of 2008, according to Real Capital Analytics. Greater Hartford accounts for 52 of those struggling properties worth $627 million compared to 18 properties worth $182 million in December 2008, according to the research firm.

There are 46 troubled commercial properties in Stamford worth $1.1 billion, up from 14 properties worth $197 million in 2008. The other seven struggling properties — worth $132 million — are located throughout the state. In December 2008, that figure was a mere four properties valued at $84 million.

The national figures are even more frightening.

An estimated $1.4 trillion in U.S. commercial mortgages will mature between 2010 and 2014, half of which are “under water,” meaning the borrower owes more on the loan than the property is worth, according to a recent report by the federal Congressional Oversight Panel.

Articles related to this topic:

 Over $187 billion in Distressed Property Nationally
 High Level of Distress Forces Some Real Estate Firms to Throw Lifelines
 The Fed and MBS: An End in Sight

Posted by: Mark Alferman

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