Office Loan Defaults Spread to Denver, Buyer Snaps Up Another Distressed Retail Center, Single-Borrower Payoff Rate Set To Improve

Office Loan Defaults Spread to Denver: Credit-rating firms have been lowering bond ratings on downtown office buildings across the country, including in Charlotte, North Carolina, and Philadelphia in the past two weeks. In the latest downgrade, S&P Global Ratings notched down its ratings on five classes of bonds from commercial mortgage-backed securities deal WFRBS 2013-C11. The move reflects S&P’s reevaluation of the largest loan in the offering backed by Republic Plaza, Denver’s largest office building.