National Commercial Real Estate News From CoStar Group
Distressed CRE: It’s a Seller’s Market
It’s a sellers’ market for distressed commercial real estate and Taylor Burke, senior executive vice president and chief lending officer for the $2.62 billion Burke & Herbert Bank in Alexandria, VA, wants to move his inventory.
“I think this is a great time to buy distressed property, especially that which we are selling,” joked the Alexandria-based banker.
More seriously, though he says, the market is good for bad property right now.