Big lenders finally swallow huge losses on distressed commercial real estate
After years of delaying painful decisions, commercial real estate lenders—including Goldman Sachs Group Inc., Deutsche Bank AG, and smaller firms—are finally selling off distressed debt and foreclosing on troubled properties, even at steep losses. The shift marks the end of the “extend-and-pretend” era, where lenders held onto struggling assets in hopes of market recovery. Now, … Read more