News & Press
What The Historic Collapses Of SVB, Signature Bank Mean For Commercial Real Estate Investors
There is an epic new cloud of uncertainty for real estate finance as lenders try to contain the fallout of the second- and third-largest bank failures in American history.
“There were already two things going against the real estate community — higher interest rates and lower valuations,” said Anchin Block & Anchin partner Robert Gilman, co-leader of the accounting firm’s real estate group. “Now there’s this, which is going to tighten up underwriting, including for credit facilities.”
While the federal government’s decision to protect SVB and Signature’s customers has helped keep the market somewhat stable, they have injected new uncertainty into what had already been a confusing market.
“Where I think the concern now is going to be is, ‘What is next?'” Anchin’s Gilman said. “Where am I going to get my next loan from if I have to refinance or go out and acquire property?”