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Blog (20)
October 27, 2026
The Hilton Portland, Oregon ($240 million 2019-PLND) SASB CMBS is facing a potential total loss. Originally valued at $340 million at origination in 2019 when it was owned by Brookfield, the loan entered special servicing during COVID and was foreclosed on in 2023. One challenge is that the loan has $56 million of servicer advances […]
October 22, 2026
Yesterday, the partnership comprised of Citadel/Ken Griffin (60%), Vornado (36%) and Rudin (4%) announced the completion of their joint venture agreement to build a nearly 2 million square foot office tower at 350 Park Avenue that will be anchored by Citadel with an estimated delivery date of 2032. Construction financing of $3.3 billion lead by […]
October 9, 2026
Great news this week for New York City Office in two noteworthy transactions. First, we have a new NYC record rent at Related Companies’ to be completed 625 Madison announced at $375 per square foot (starting at $350 and growing to $400). The previous record was held by 9 West 57th Street at $330/sf. Demand […]
September 24, 2026
After six years in special servicing, the retail component of the Palmer House Hilton ($58mm – JPMBB 2015-C32 & CMBX9) located in downtown Chicago’s Loop District was liquidated at a 100% loss severity. The buyer is the loan’s sponsor, Thor Equities, based in New York. The 68,000 square foot space in minimally occupied. The reported […]
September 16, 2026
The Fed increased rates today by 25 basis points, as expected, increasing their target rate to 3.75% – 4.00%. Equities are mixed on the news while the 10Yr Treasury rallied to just inside of 5%, noting that the 10Yr hasn’t exceeded 5% at its daily close for >19 years (July 19, 1997). The Fed clearly […]
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