The New York Times Quotes Chicago Locke Lord Partner Mark Silverman on Uptick of Commercial Property Foreclosure and Distress

Mark Silverman, Partner and CMBS Special Servicer Team Leader in Locke Lord’s Chicago office, was quoted by The New York Times on the sharp rise and continued strain of commercial properties falling into the critical stages of distress. With the shrinking demand for office space and elevating interest rates and costs, some properties have been forced to close doors and are being sold for significantly lower prices. “There is a lot more trouble coming,” says Silverman. “If we think it’s bad now, it’s going to get a lot worse.”

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