Buildings are trading for as much as 80% below cost as more landlords accept that weak demand for office is here to stay.
Artemis Real Estate Partners acquired the property, which sits one block from the White House and was previously owned by Blackstone and BXP.
The Federal Deposit Insurance Corp. began marketing the former Signature Bank’s commercial real estate loans this month.
The biggest sales, leases and financing deals in New York City this past week.
Starwood is raising $10B for its latest opportunity fund.
The office deal is the largest acquisition since 2019.
Rents are rising in the student accommodation sector, but that poses a potential challenge to affordability.
Despite $17B of securitized loans issued in Q1, legacy CMBS loans continue to see mounting problems, especially those backed by office properties.
The short sellers predict the mortgage REITs will struggle to obtain refinancing because of low property values.
Artemis takes control of Metropolitan Square, MRP lands financing for an affordable housing project, the SEC signs a major lease extension and more.
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