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June 12, 2023

Developers ‘On The Edge’ Of Making Residential Conversions Work Want More Government Help

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Office-to-residential conversions are a key pillar of D.C. Mayor Muriel Bowser’s effort to revitalize the city's central business district and meet her goal of adding 15,000 residents downtown by 2028. 

Developers ‘On The Edge’ Of Making Residential Conversions Work Want More Government Help

But while several downtown conversion projects have been proposed over the last two years, only a few have begun construction, including Willco’s 163-unit project at the former Peace Corps building and Lincoln Property Co.'s 222-unit project at 1313 L St. NW. As developers face razor-thin margins in getting…

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Apollo Makes ‘Significant’ Investment In Data Center Developer

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Private equity giant Apollo Global Management has agreed to provide a substantial investment in data center provider Yondr Group in what the asset manager is calling the first step of a broader partnership.Apollo announced Monday that its infrastructure fund made a “significant capital investment”…

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‘The Writing Is On The Wall’: Office Lenders May Have To Go All-Out Ahead Of Mass Surrenders

‘The Writing Is On The Wall’: Office Lenders May Have To Go All-Out Ahead Of Mass Surrenders  

For the past few months, reality has been setting in for owners of U.S. office buildings.

Many of them have debt coming due on buildings worth much less today than when their loans were originated. That value destruction has distressed asset buyers lining up to pounce. But before the feeding frenzy can begin, office owners and their lenders have key decisions to make.

Traditional lenders like banks would prefer to extend and modify terms so borrowers can keep holding their properties until refinancing options become available once again. Yet borrowers must decide if those properties are worth the cost of owning them through 2025, when industry predictions say financing and leasing environments will…

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In Case You Missed It...

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