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Commercial Real Estate Under Pressure
This chapter examines the tightening lending standards in the commercial real estate sector, with a focus on the dynamics between domestic and foreign banks. It highlights recent developments in notable properties, including Fannie Mae's decisions regarding the Midtown Center and WeWork's lease renegotiations amidst bankruptcy. Additionally, the chapter delves into the challenges facing the office market and the broader implications for retail and multifamily sectors, underscoring the significant declines in asset values and potential opportunities for investors.