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Brookfield also defaulted on a pair of Los Angeles office properties in February.
CEO Mukang Cho says the firm will target structured debt investments in the office sector.
A look at Trinity Real Estate Investments and Credit Suisse Asset Management’s $835 million purchase of the Diplomat Beach Resort.
Market specialist Malcolm Davies at WAY Capital believes there is a need for more pragmatism and creativity around office conversion projects.
PIMCO-backed Columbia Property Trust defaulted on $1.7bn in February.
More debt investors are looking at financing office-to-residential conversions.
The firm is watching central bank activity across markets closely as well as recession indicators.
C-PACE financing continues to gain momentum, while the office sector appears to be approaching crisis.
Berkadia arranges refinancing for Rose & Berg’s new office and retail project in trending Wynwood locale.
The events could be the start of a period of defaults and delinquencies for the US office market.