Owners and developers of commercial real estate will now have more flexibility to rework their mortgages or obtain loan extensions under a new federal tax rule, a change that could aid the troubled sector.
The new rule, issued by the Internal Revenue Service, will affect loans backed by shopping malls, office parks and other commercial properties that have been securitized and sold to investors.
Commercial property owners, who are reeling from plunging property values and a contraction in lending, have had trouble negotiating for..
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