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Fortress Makes $1B Bet on NYC Office Rebound With Capital One Loan Portfolio Buy

Fortress Investment Group has acquired roughly $1 billion of office loans from Capital One (COF) with an eye toward a turnaround in New York City’s office sector, Commercial Observer has learned. The private lender purchased the loans this week in a move that signifies a “big bet on the rebound of New York City’s office sector,” one source said, with Big Apple office loans accounting for a large chunk of the portfolio, sources told CO. JLL (JLL)‘s Will Sledge...
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Source: yahoo.com

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'Purgatory' Grips $146B of Distressed Commercial Properties

‘Purgatory’ Grips $146 Billion of Distressed Commercial Property The pandemic helped push about $146 billion of commercial real estate into distress or serious risk of bankruptcy last year, according to Real Capital Analytics. Bloomberg | Feb 25, 2021 (Bloomberg)—Good news about vaccines and rallying financial markets suggest the end of the coronavirus pandemic is in sight, but the worst may still be to come for commercial properties. The coronavirus outbreak helped push about $146...
United States Jerome Powell Joseph Weissglass Teresa Goebel Adam Sklar Manus Clancy

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