The Federal Reserve is again sounding the alarm on commercial real estate, sharpening its focus on office-heavy loan books at community and regional banks that are absorbing the brunt of the post-pandemic reset.  In its latest supervision and regulation report, the central bank cited “elevated interest rates, tighter underwriting standards and lower commercial property values” as pressure points that could complicate refinancings and push more borrowers toward distress, Bloomberg reported. For real estate players, the subtext is familiar: lenders are bracing for more pain across offices and other challenged asset classes. The Fed’s message isn’t that banks are in danger […]

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