The wipeout of CRE valuations is going to be epic. Banks, PE locusts, & pension funds saddled with the toxic-waste CMBSs on these buildings are toast.

by
Sharing is Caring!

On Tuesday, we asked: Is this the start of a commercial real estate firesale in crime-ridden Baltimore City?

And to our surprise, it appears so.

Let’s begin with our report on Tuesday when The Baltimore Sun revealed a 30-story office tower at One South Street in downtown Baltimore that was sold in June for $24 million, a 63.6% discount versus the tower’s 2015 sale of $66 million. This was the first sale of its kind in the post-pandemic era.

www.zerohedge.com/markets/baltimore-hit-office-tower-price-crash-firesale-erupts

See also  People So In Debt "It's Never Going to be Paid Off"

See also  Banks need to help to keep the $NVDA illusion going otherwise they lose their fees stream… as usual

h/t Simian_Stacke

Views: 85

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.