thevin on Nostr: According to a report by @WSJ, more and more large office landlords are failing to ...
According to a report by @WSJ, more and more large office landlords are failing to repay their loans due to the combination of elevated interest rates and the increasing adoption of remote and hybrid work policies.
https://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0The office market is competing against secular shifts and cyclical phenomena simultaneously. Leases expiring before 2026, totaling approximately 1.4 billion square feet of space, may lead to the return of nearly 300 million square feet of space to the market.
Owners are expected to hold onto their best product and liquidate their most challenging assets first. Refinancings could prove challenging as values no longer support current terms, meaning an additional equity gap would need to be filled.
Published at
2023-02-21 15:25:05Event JSON
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"content": "According to a report by @WSJ, more and more large office landlords are failing to repay their loans due to the combination of elevated interest rates and the increasing adoption of remote and hybrid work policies. \n\nhttps://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0\n\nThe office market is competing against secular shifts and cyclical phenomena simultaneously. Leases expiring before 2026, totaling approximately 1.4 billion square feet of space, may lead to the return of nearly 300 million square feet of space to the market. \n\nOwners are expected to hold onto their best product and liquidate their most challenging assets first. Refinancings could prove challenging as values no longer support current terms, meaning an additional equity gap would need to be filled.\n\nhttps://nostr.build/i/nostr.build_e691b434f08ab7447ebfec33263cca5aaf64355ec71734a051db0db244958b83.jpg",
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