Canadian Imperial (CM) Signs Deals to Offload US Office Loans

Office loan exposure is problematic for banks currently. Lenders are trying to offload those, even at a discount. One such bank doing so is Canadian Imperial Bank of Commerce (CM) . Per a Bloomberg report, CM has signed agreements with multiple buyers to divest U.S.-based office loans worth $316 million at a discount. These loans are backed by eight offices located in cities including San Francisco, Seattle, Phoenix and Austin. As the process is private, the company spokesperson declined to comment on the d ...