Commercial Banks Suffer Along With Commercial Real Estate
This article looks at the current abysmal state of the commercial real estate market and its effects on companies like Blackstone, Fifth Third Bank, and Union Bank. With commercial real estate selling as low as $9 /sf, these companies are taking a big hit to profits as they try to sell excess real estate for less than half of what they paid for it just a few years ago. Some companies like Brookfield are simply walking away from the properties in places like downtown Los Angeles.
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