An increasing number of commercial property owners are finding themselves in a hopeless situation, facing declining rents, increasing vacancies and a loan coming due.
The daunting situation of being caught between a demanding lender and a business with numbers that just do not work any more is expected to become far more common in this market in coming years, local real estate experts say.
And most lenders will be far less open than they were on residential mortgages to negotiating a short sale to help commercial owners deal with their upside-down loans.