Orlando Led the Nation in June Commercial Loan Maturities
Almost $165 billion in loans are due for renewal according to First American CoreLogic (source Bloomberg). Orlando led the way in June with $96.9 million in loan maturities, followed by Memphis with $96.2 million. It is widely predicted that maturing loans from now until 2012 will cause a significant amount of upheaval in the commercial markets. Most of these loans were written with 5 year maturities and with the real estate market peaking somewhere around 2005-2006 (depending on the sector), the balance of many of these mortgages will in all likelihood be greater than the real estate is worth.
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