New York Post, Feb. 21, 2023–Thomas BarrabiA growing number of office landlords are defaulting on loan payments as the rise of remote work causes more corporate tenants to rethink long-term …
Category: Top National News
CREW Up: Working Together Toward Pay Equity in CRE
Commercial Property Executive, Feb. 22, 2023–Laura CalugarWhile younger generations are more inclined to ask for what they think they deserve than older generations—which expect their superiors to notice they’re working …
How Remote Work is Changing the Office Space Market
NPR/WBUR, Feb. 21, 2023–Roben FarzadMore companies that manage large amounts of office space are defaulting on their loans. Some experts think that remote work has permanently changed the market for …
How West Palm Beach Was Transformed Into ‘Wall Street South’
New York Post, Feb. 17, 2023–Beth LandmanOnce considered to have down-market and dangerous areas, West Palm is now earning the nickname “Wall Street South.”https://nypost.com/2023/02/17/west-palm-beach-has-become-wall-street-south/?
Office Landlord Defaults Are Escalating as Lenders Brace for More Distress
Wall Street Journal, Feb. 21, 2023–Peter Grant (subscription)The delinquency rate for office loans that back commercial-mortgage-backed securities remains low, but it is heading higherhttps://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0
More Sellers Become Open to Off-Market Deals as CRE Market Faces Liquidity Crunch
Wealth Management Real Estate, Feb. 21, 2023–Patricia KirkAs sellers become more concerned about marketing a property that fails to sell, it has opened up more opportunities for investors looking for …
El-Erian Says Fed’s 2% Inflation Target Would Crush US Economy
Bloomberg, Feb. 17, 2023–Victoria CavaliereThe Federal Reserve won’t be able to get US inflation down to its 2% target without “crushing the economy,” economist Mohamed El-Erian warned on Friday, but …
Nearly 30 Percent of Work Remains Remote as Workers Dig In
The Hill, Feb. 20, 2023–Daniel De ViseNearly 30 percent of all work happened at home in January, six times the rate in 2019, according to WFH Research, a data-collection project. …
Brookfield Defaults on Two Los Angeles Office Towers
Bloomberg, Feb. 14, 2023–John GittelsohnBrookfield Corp., parent of the largest office landlord in downtown Los Angeles, is defaulting on loans tied to two buildings rather than refinancing the debt as …
MBA CREF23: Cautious Optimism in the Face of Headwinds
Trepp, Feb. 17, 2023–Vivek DenkanikotteAgainst a backdrop of headwinds in commercial real estate finance including dropping property values, fewer originations, and maturing loans amid rising interest rates, MBA CREF23 conference …