90% Of Maturing CMBS (Commercial Mortgage-Backed Securities) Of Office Properties Defaulted At Their Maturity In September

89% defaulted ($672 million) and 11.1% ($83.7 million) were paid off during September 2023. None were extended or modified, according to Moody’s Analytics.  A new company, Arthroto, has a plan to make conversion of office to residential easier and cheaper by using factory-manufactured components that can be assembled floor by floor without disrupting other floor tenants. Ass this to the other ideas being tried in different parts of the continent, like growing high-value produce in Class A office building, growing cannabis, conversion to homeless housing (which I have not seen any successful examples as of yet) and with older, small-floor plate buildings, straight conversion from office to residential.