Once seen as stable assets in a balanced investment portfolio, commercial real estate securities are now largely avoided by banks in San Francisco—with traditional lenders citing excessive risk and higher short-term interest rates as reasons for declining loans, according to experts.
“There’s no money out there,” Nick Slonek, global real estate firm Avison Young’s principal and regional managing director for the San Francisco area, told The Epoch Times. “The best money available is above 9 percent interest and with 50 percent down, and that’s only for a bulletproof deal.”
