Photo by Kena Betancur/VIEWpress)
- The commercial real estate sector could see a 2008-like crash, according to one CEO.
- Experts have been sounding alarms for commercial property since the collapse of SVB in March.
- The sector is largely financed by small- to mid-sized regional lenders, and $1.5 trillion in debt will soon mature.
A crash may be coming for the commercial real estate market, and the fallout could be as bad as what was seen in the 2008 crisis, according to the CEO of a real estate investment firm.
Speaking in an interview this week, Patrick Carroll, the CEO of the real estate investing firm Carroll, told CNBC that the market is looking at a dire situation in coming years as huge amounts of commercial mortgage debt reaches maturity.