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Second Domino Drops in Commercial Real Estate Market as Japanese Bank Slashes Value of Its American Office Holdings

Banks in America and Japan are expecting some of their office real estate loans not to pay off.

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The New York Stock Exchange. — The New York Stock Exchange. AP/Ted Shaffrey

Published: Feb 1, 2024, 10:38 AM ET
Updated:Feb 1, 2024, 11:33 AM ET

Signs of a long-predicted commercial real estate crisis are beginning to bubble up as Aozora Bank, the 16th largest bank in Japan, became the second bank in two days to warn of growing losses from their portfolios of American office buildings.

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Signs of a long-predicted commercial real estate crisis are beginning to bubble up as Aozora Bank, the 16th largest bank in Japan, became the second bank in two days to warn of growing losses from their portfolios of American office buildings.

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