Posts Tagged: default

Prominent Center City Buildings Face Possible Default

3 Center City office buildings face possible default as tenants leave, loans come due

Philadelphia office buildings face a potentially landscape-altering shift that could shape the market for years to come. Decreased occupancy rates have reduced leasing income for landlords to pay off commercial mortgages on their office buildings, many of which have suffered significant losses in property value since the start of the pandemic. That spells danger for… Read more »