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Warnings from large global banks, including Citigroup, J.P. Morgan Chase and Wells Fargo, that more than $40 billion in commercial real estate loans were coming due by the end of 2024 came as early as April this year. But the current and potential defaults associated with just one commercial real estate sector (CRE) sector — office space — have the banks' largest share of attention. As recent record vacancy rates and bank defaults in Los Angeles; San Francisco; the Washington, D.C. metro; Austin

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