DOGE’s Lease Exits Put $12 Billion of Loans at Risk: Barclays
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The US Department of Government Efficiency’s (DOGE) plan to target the government’s real estate footprint puts around $12 billion of loans tied to commercial mortgage bonds at risk, according to a Barclays Plc analysis.
Leases on 22 properties have already been canceled, with more expected to be identified for closure. As a result, CMBS loans with exposure to General Services Administration leases are now more at risk of default, analysts Lea Overby and Anuj Jain wrote in a note Friday.