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The structural shifts in the market are changing the way capital is deployed into different property types and locations.
As the retail apocalypse ends, the office Armageddon begins, says Toby Cobb, co-founder of the national real estate investment trust.Â
Owners of office buildings where the flexible space provider is a major tenant are in a predicament, whether or not the business survives.
CEO Mukang Cho says the firm will target structured debt investments in the office sector.
PIMCO-backed Columbia Property Trust defaulted on $1.7bn in February.
The events could be the start of a period of defaults and delinquencies for the US office market.Â
CFO Darren King says charge-offs of most concern on fourth quarter earnings call.
The loan – for a Wilmington bank headquarters – carries a term of 10 years and was originated on behalf of local manager Buccini/Pollin.
A three-bank consortium of Investors Bank, Oceans First Bank and Provident Bank provided the loan.
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