GGP bankruptcy puts spotlight on maturing CRE debt

Billions of dollars of debt secured by retail, office, industrial and multifamily properties is due to be refinanced or renegotiated in the coming months and years, and the bankruptcy of a big and prominent company such as General Growth Properties is putting the issue center stage. The event may well encourage lenders who have maneuvering room to be "amenable to working with the borrower rather than see a disorderly result, like bankruptcy," said the president and chief economist for Real Estate Economics, Sam Chandan.

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