Defaults and vacancies are on the rise at high-end office buildings, in the latest sign that remote work and rising interest rates are spreading pain to more corners of the commercial real-estate market.
Tag: defaults
Deutsche Bank Shares Plunge, Default Insurance at Highest Since 2018
Deutsche Bank shares tumbled on Friday after the cost of insuring the bank’s debt against the risk of default shot to more than four-year highs.
Office Building Owners Bracing for Drop in Property Valuation
Prices for some aging office towers have already dropped by a quarter as potential buyers struggle to secure financing at a time when interest rates are rising rapidly.