As we know real estate in distressed situations create huge opportunities for investors. Generally, single family residence real estate feels the pinch of low economies then commercial properties follow shortly after. Well, that time for commercial distress is now upon us. Take a look at this report that came out 06/30/09:
National distressed commercial real estate totaled $97.4 billion in early June, including foreclosures, lender-owned properties and those headed in that direction, according to a new report from Delta Associates.
Distressed commercial real estate volume has doubled every three months since December 2008 with retail properties representing the largest segment in June, at $29.7 billion.
Commercial mortgages had a 3.2 percent delinquency rate in the first quarter, up from 1.8 percent in the first quarter of 2008.
Delta says mortgage maturities will also peak at more than $300 billion per year in 2012 and 2013.
The Alexandria, Va.-based firm also reported that the 12-month trailing delinquent unpaid balance of commercial mortgage backed securities rose by $12.5 billion to $17.1 billion in February.
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