Brion Kirsch Discusses Commercial Loan Maturities with Hartford Business Journal

Pullman & Comley Real Estate attorney Brion J. Kirsch was quoted in a Hartford Business Journal article covering the wave of commercial loan maturities that is fueling widespread concern over a pending national commercial real estate crisis. While landlords are being forced to consider either paying their loans, refinancing or renegotiating debts, many lenders of struggling office properties have to decide to foreclose or work out a deal.

“We’ve seen a handful of deals where we are already in discussions with banks about extending terms and requiring landlords to post additional security, things of that nature in order to work out a pending maturity where the value is not there to refinance,” said Brion. With the Federal Reserve signaling at least two additional rate hikes this year, Brion advises building owners and landlords to start looking over their obligations now and begin discussions for loan extensions or other deals to refinance or extend current debt with an impending maturity at least 12 months before the stated maturity date.

To read the full article, please visit the Hartford Business Journal's website.