Property developer Michael Shvo and his backers acquired six major office and retail buildings for more than $2 billion in 2019 and 2020. The fate of those towers will say a lot about the future state of U.S. office properties.
The fate of a half-dozen office buildings owned by property developer Michael Shvo and a group of German investors will likely say a lot about the future of U.S. office properties.
The residential-broker-turned-commercial-developer and his backers acquired six major office and retail buildings in 2019 and 2020. The shopping spree included San Francisco’s famous Transamerica Pyramid tower and 711 Fifth Ave. in Manhattan, which is known as the Coca-Cola building.
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