Posts Tagged: Bank

Bank Collapse Triggers Office Downgrades

Alarms Ringing for Office Market, Bank Collapse Triggers Office Downgrade, Bank of America Bullish on Multifamily

Alarms Ringing for Office Market: When the loan on Philadelphia’s largest stand-alone office building at 1500 Market St. moved to special servicing in August, it didn’t register much alarm at the time, according to a new report by Morningstar Credit Information & Analytics. After all, the property’s performance metrics were significantly below underwritten expectations for a loan securitized… Read more »

2400 Market St. refinanced with $220M loan


Lubert-Adler Partners has secured a $220 million loan to refinance 2400 Market St., a 592,476-square-foot Center City office building that is anchored by Aramark Corp.’s headquarters.  Deutsche Bank issued the loan and terms were not disclosed.  In 2014, a partnership between two Philadelphia real estate firms — PMC Property and Lubert-Adler — paid $42 million… Read more »