Charlotte-Gastonia-Concord, NC-SC, was the metropolitan area with the highest share of distressed office real estate debt in the United States in April 2023. Distressed real estate loans, or the share of debt which was delinquent or in special servicing, amounted to nearly 37 percent. The office sector has suffered a dramatic decline in demand since the beginning of the coronavirus pandemic. As the monetary policy tightens and investors become increasingly cautious with lending, many office occupiers downsize, resulting in landlords struggling to find tenants and service their debts.
Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro
Distressed real estate loans include commercial mortgage bank securities (CMBS) in the conduit and SASB universe that are delinquent, in special servicing, or a combination of both.
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CRED iQ. (May 3, 2023). Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/
CRED iQ. "Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro." Chart. May 3, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/
CRED iQ. (2023). Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/
CRED iQ. "Share of Distressed (Delinquent and Specially Serviced) Office Real Estate Debt in The United States in April 2023, by Metro." Statista, Statista Inc., 3 May 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/
CRED iQ, Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/ (last visited November 10, 2024)
Share of distressed (delinquent and specially serviced) office real estate debt in the United States in April 2023, by metro [Graph], CRED iQ, May 3, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1389202/share-of-distressed-office-real-estate-by-market/
