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A report from Real Capital Analytics showed that the total inventory of distressed commercial real estate properties in the United States has declined.
The total price of distressed properties during the cycles was $375 billion, World Property Channel reported, citing the firm's report. Despite the high figure, more than half of this has been either sold to another management company or has improved loan payments.
"Properties aren't going through the foreclosure process, winding up with banks and then being sold for [practically] nothing, like in the early 1990s," Dan Fasulo, managing director for Real Capital Analytics, told the news source. "In this cycle, you had to acquire a loan, then work with outside advisors and lawyers to take control."
However, the office market has experienced the most difficult recovery, as $44 billion worth of these properties are still considered to be distressed, according to the report. A total of 57 percent of distressed office properties have been removed from its total. The multifamily market still has $33 billion left in distressed properties, but nearly 60 percent of its total distress level has subsided.
