Commercial real estate loan defaults will rise in a credit crunch but a crisis like 2008 is unlikely, says UBS

• Defaults on commercial real estate loans will likely rise from a potential credit crunch, says UBS Global Wealth Management. 
• But stress on banks that service such loans appears to be manageable, the firm says. 
• Data from Trepp shows the delinquency rate for loans in the office market climbed in March. 

Defaults on commercial real estate loans will likely rise from an ongoing credit crunch, but the stress on banks won't be as severe as the upheaval during the global financial crisis, according to UBS.