RCA in the News

New York Construction Freeze Is Adding to Industry’s Debt Risk

Bloomberg / April 8th, 2020

Bloomberg reports: New York City’s construction shutdown has derailed a $66 billion industry, increasing the risk on billions in loans issued to fund projects across the city.

Before the virus outbreak, more than 450 construction projects were underway in New York, where lenders including Wells Fargo & Co. and Deutsche Bank AG, originated roughly $8 billion in construction debt in the past two years, according to Real Capital Analytics Inc.

View the full article on Bloomberg: New York Construction Freeze Is Adding to Industry’s Debt Risk