Hurricane Florence-related damages could impact $1.49 billion worth of securitized commercial mortgages, according to a report from Morningstar Credit Ratings. The storm has been devastating North Carolina with flooding and record-breaking rainfall, and Morningstar found 189 properties backing 187 securitized loans in counties designated as disaster areas by the Federal Emergency Management Agency. The state’s Cumberland and New Hanover Counties had the most exposure at $1.05 billion. Freddie Mac deals on multifamily properties account for […]
source https://therealdeal.com/2018/09/20/hurricane-florence-damage-toll-could-include-nearly-1-5b-of-mortgages/
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