Commercial real estate is facing a mountain of debt that many borrowers could have trouble refinancing due to a rapid hike in interest rates and record vacancies, according to The Wall Street Journal.
Commercial real estate is facing a mountain of debt that many borrowers could have trouble refinancing due to a hike in interest rates and record vacancies.
Prices for office towers in Canada have now plunged so much that in many cases they’re actually below the value of the land itself. That’s an opportunity some developers haven’t missed.
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