WILMINGTON, Del., Oct 13 (Reuters) - Capmark Financial Group Inc will likely become one of the largest commercial real estate lenders to fail, highlighting the challenges facing the deteriorating market for retail and office buildings.
A source told Reuters on Monday that Capmark would file for bankruptcy as soon as next week, with about $10 billion in assets. [ID:nSP460515]
Restructuring specialists said Capmark's troubles are a symptom of of the wider collapse in commercial real estate values and a signal of tougher times ahead for lenders and developers.
"I don't want to belittle Capmark," said Jeffrey Rogers, president of Integra Realty Resources Inc in New York, "but it's just a pimple on what's out there.".....
