Clouds Rising Over Banks?

Day Pitney Florida Real Estate chair Daniel Diaz Leyva is featured in Sun Sentinel's article titled, "Clouds Rising Over Banks? As Interest Rates Stay High, FAU Survey Handicaps Risks For Lenders With Big Books of Commercial Loans."

Diaz Levya commented that South Florida and Florida were "uniquely positioned." He added, "Not all markets are equal. We are already seeing distress in some markets. Owners are handing over the keys to primarily office buildings in markets like New York and San Francisco. Those markets obviously are challenged, to say the least. We continue to see population growth [in South Florida], albeit a little lower than immediately after the COVID pandemic. The cadence is consistent and strong compared to other markets, and that will sustain us through these challenging times."

Read the full article here.