Daniel A Devine

June 19, 2023 | New York Law Journal

As has been widely reported, U.S. property owners must refinance $137 billion of office mortgages this year and nearly half a trillion dollars in the next four years, at a time of widespread lender retrenchment. Compounding the distress, spiking interest rates, coupled with the staggering cost of interest rate hedges for floating-rate loans, have dramatically raised the cost of the few loans on offer.

By Dennis M. Sughrue and Daniel A. Devine

9 minute read