A growing area of weakness was in commercial real estate, with Wells reporting the bank had $154.7 billion of outstanding CRE loans, 16% of its total loans, and $35.4 billion in CRE office loans, as of the quarter’s end.
Cresset Real Estate Partners sources private market real estate investment opportunities for high-net-worth investors and family offices. It was a separate company until a partnership was formalized in 2021.
