About $24.8 billion of US office buildings were in distress at the end of Q2, surpassing hotels and retail properties. Read more.
Play Video
The total value of offices that were financially troubled or already repossessed by lenders shot up about 36 per cent from the first quarter, MSCI Real Assets reported Wednesday.At the end of June, US$22.7 billion of retail properties — including malls — and US$13.5 billion of hotels were in distress. The total for all troubled commercial properties was almost US$72 billion, up 13 per cent from the first quarter.
“The office sector was responsible for the largest share of market-wide distress,” according to the report, based on filings for bankruptcies, defaults and other publicly reported property issues. “It’s the first time since 2018 that neither the retail nor hotel sector was the biggest contributor.”Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
LETTER: 'So disappointing to read about the graffiti in our city''I feel that our court system has really failed us,' reader writes, lamenting the vandalism in downtown Sault Ste. Marie
Lire la suite »
Nicholas Read: How much money and scientific know-how is going into apprehend Otter 841?Opinion: Oceans are being choked with plastic while sea life is disappearing, but what warrants our attention and manpower? A sea otter who had the temerity to bite a few surfboards.
Lire la suite »
These are the 5 headlines you should read this morningB.C.'s port strike resumes, James Cameron on AI and a prison riot in Manitoba. Here's what you need to know to start your day.
Lire la suite »
These are the 5 headlines you should read this morningB.C.'s tumultuous port strike saga is expected to end, parents are worried for their children's financial future and a $1.8 million view.
Lire la suite »
Kukko ready to continue hockey path in Sault Ste. MarieRead the full story and comment on Tbnewswatch.com
Lire la suite »
Outbreaks related to COVID-19 still occurring in Thunder BayRead the full story and comment on Tbnewswatch.com
Lire la suite »