New York Community Bank agreed to buy about $13 billion worth of the firm's $74 billion lending portfolio. But that sale excluded the company's $35 billion commercial real estate loan book. Susanna: The lack of interest in that CRE loan book tipped off industry players that there was a bigger problem with these loans.
As distress descends on commercial real estate, Deconstruct analyzes how past financial crises can inform how borrowers, banks and policy makers handle this down cycle. Guests include: Bob Knakal, JLL Senior Managing Director, Head of New York Private Capital Group; and Sam Chandan, Professor of Finance and Director of the Chao-Hon Chen Institute for Global Real Estate Finance at the New York University Stern School of Business.