Why ‘shrapnel’ from regional bank crisis will affect CRE lending here

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

While the regional banking crisis has yet to impact banks with a large presence in Florida, the fallout could significantly affect commercial real estate in the Sunshine State and metro Orlando.

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Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting, told Orlando Business Journal that regional banks are taking on “shrapnel from failed banks” such as Silicon Valley Bank, Signature Bank and First Republic Bank.

As a result, the commercial real estate sector may take “a second whammy” to add to the industry’s ongoing uncertainty related to its office sector, he said.

Click here to read the full story on the Orlando Business Journal’s website.

VIDEO: Congress grills top federal financial officials over recent bank failures Members of Congress are pushing for answers about recent bank failures. (Kirstin Garriss, CMG Washington News Bureau/WFTV)

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