The bank that built a reputation on financing big construction projects is now mostly collecting checks and selling buildings it took back. Bank OZK reported $420 million in foreclosed assets at the end of September, almost entirely from its Real Estate Specialties Group, according to the bank's third-quarter management comments. Bisnow reported that the total was $293 million in June and $79 million a year earlier. The bank's largest foreclosed asset is a Boston life science property carried at $132…
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The Bank That Once Led U.S. Construction Lending Is Shrinking. Its Foreclosed Property Pile Just Hit $420 Million.
Bank OZK’s foreclosed assets hit $420 million as its construction loan book shrinks. What the pullback could mean for developers and property investors.
