'Maybe This Is The New Normal': Investor Buys Downtown Boston Office At 74% Discount
Kendall Capital bought 33-41 West St. for $4.1M, roughly $12M less than what the seller paid for it in 2016.
Kendall Capital bought 33-41 West St. for $4.1M, roughly $12M less than what the seller paid for it in 2016.
Construction on new office projects continues to slow across the country, leading to a tight market for the many tenants seeking high-end space.
Office debt distress is growing at an accelerating pace, driving overall CRE distress to levels not seen since the aftermath of the Global Financial Crisis.
Maturing office loans and demand for residential space help explain why a record-high number of office-to-apartment projects are underway this year.
Some turn to master planning land sites, while others are relying on management or development of other assets, like apartments.
RXR and SL Green’s freshly opened 5 Times Square is flush with swanky amenities and bespoke interior design. But can amenities lure tenants back to the office
Spear Street Capital acquired the property, which Tishman had bought in 2013 for $89M and then renovated.
Douglas Entrance sold for $76M to Colonnade Properties after Banyan Street Capital and Oaktree Capital Management paid $101M for the complex in 2014.
Franklin Street Properties sold the 300K SF building for an undisclosed price.
The former president has plans to build a 45K SF office at his Trump National golf course in Jupiter, north of Palm Beach.
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