"Brookfield and its lenders (and receivers and special servicers) are peddling four active offerings that totals about 4.9 million square feet of Class A office space in the submarket, roughly 18 percent of the total inventory. The Financial District has a total of around 26.5 million square feet of Class A space, according to the most recent data from brokerage Avison Young (Bunker Hill is commonly considered part of the Financial District, although Avison Young breaks out the data)."
"EY Plaza: Colliers is marketing the $275 million, non-preforming note tied to the property at 725 South Figueroa Street, in receivership. That note is expected to trade at a massive discount. Last the publication heard, Colliers was calling for offers. It is unclear whether it found a lucky buyer. If the brokerage did, who knows if the deal would hold Carolwood's prior $130 million deal collapsed."
Brookfield and related lenders, receivers and special servicers are marketing four active offerings totalling about 4.9 million square feet of Class A office space in the Financial District, roughly 18% of the submarket's inventory. Several assets are in receivership or tied to defaulted loans. Colliers is marketing a $275 million non-performing note on EY Plaza at 725 South Figueroa Street expected to trade at a steep discount. Colliers also shops the defaulted CMBS loan on Bank of America Plaza with a $400 million balance. Eastdil Secured is marketing the roughly $506 million mortgage on Wells Fargo Center's North Tower; bids are expected far below loan balances.
Read at therealdeal.com
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