Atlanta Foreclosures Hitting Commercial Real Estate

The issue of Atlanta foreclosures in Georgia might soon be felt among commercial properties in the city. As of July 2010, real property research company Trepp LLC reported that around $1.6 billion worth of commercial loans in the area were delinquent for at least 60 days. The firm also reported that the amount is one of the highest among cities in the region in terms of delinquent commercial loans.Aside from the high numbers of foreclosed homes in Georgia, the area will likely have to deal with possible commercial foreclosures in the coming months if the loans were not made current or another agreement is made with the banks.

Aside from the high numbers of foreclosed homes in Georgia, the area will likely have to deal with possible commercial foreclosures in the coming months if the loans were not made current or another agreement is made with the banks. The report from Trepp has also revealed that the city's commercial mortgage backed securities (CMBS) that are delinquent for 30 days at least have doubled in number since the same month of 2009.

By Cassiano Travareli