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The Days Of Extend-And-Pretend Strategies Are Waning, But Not Quite Over
The Days Of Extend-And-Pretend Strategies Are Waning, But Not Quite Over
Only 11% of the $755M in office CMBS loans that matured in September were paid off, with roughly half of the remaining debt securing extensions from special servicers.
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It was a paltry payoff rate even compared to the 31% rate for the year through September, according to Moody’s. And it was a sign of the times.
