Lucy Nicholson/Reuters
- The US commercial-property sector faces pain ahead as "massive" debt refinancings loom, Mohamed El-Erian warned.
- "So that's the point of pain which starts to happen," the top economist told Bloomberg.
- Some of those refinancings can't be done in an "orderly fashion" given the current high interest rates, he said.
Top economist Mohamed El-Erian warned of looming pain for the commercial real-estate (CRE) industry, with the sector facing "massive" debt refinancings at a time when interest rates are at their highest since 2001.