Banks will be squeezed over the next three years to cut their exposure to commercial real estate as an estimated $2T in CRE debt matures. 
Newmark estimates that $929B of that $2T will come due this year alone, the Financial Times reported. If they can’t be repaid, those loans will need to hunt for new financing at a time of both increased borrowing costs and lower property values.
Newmark also anticipates that $670B of the loans maturing over the next three years are “potentially troubled,” mainly office and multifamily loans.  
“Banks will be under pressure” from regulators, Newmark CEO Barry Gosin told FT. Newmark oversaw $50B in loan…