Deutsche Bank AG is trying to offload up to $1 billion in US commercial property loans off its balance sheet, just as rising interest rates have dented profits in its real estate portfolio, according to people familiar with the matter.
Deutsche Bank is a big lender to developers of US commercial real estate and especially offices.
It had $16 billion in loan exposure to US commercial real estate at the end of the second quarter, with $7 billion of that linked to offices.
The commercial property market has been hard hit by higher borrowing costs.
US offices are among the worst performers as they have also experienced higher vacancies on the back of higher rates of remote working.
.Here are the top political news stories for today.
Be the first to reply to this general discussion.
Join in on more popular conversations.
