CRE defaults loom in a post-COVID-19 Tampa Bay

Banks are bracing for a wave of foreclosures in 2021, but industrial development continues to be a bright spot for the region.

  • By Kevin McQuaid
  • | 6:00 a.m. October 23, 2020
MARK WEMPLE — Tampa Bay area bankers are boosting loan loss reserves now in preparation for a wave of anticipated CRE defaults next year.
MARK WEMPLE — Tampa Bay area bankers are boosting loan loss reserves now in preparation for a wave of anticipated CRE defaults next year.
  • Commercial Real Estate
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Tampa Bay area banks and other lenders are bracing for a wave of commercial real estate loan defaults that are anticipated in the new year, with hospitality properties and retail projects impacted by the COVID-19 crisis the most vulnerable.

 

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