I didn't see the 6.5 million figure in the article. Did I miss it?
I wonder if part of the issue is no bank is willing to finance such a deal (given cashflow doesn't make sense with such a low prevailing vacancy rate).
I've heard of large firms stop making payment on commercial real-estate. How the heck does this work? If a regular person would do that on a mortgage, their credit would be destroyed. So you would still possibly make payments in hope of saving credit (although California is no recourse so not sure if that makes a difference; new york is not and companies are also stopping payments on properties there). Anyone have an explanation?
I wonder if part of the issue is no bank is willing to finance such a deal (given cashflow doesn't make sense with such a low prevailing vacancy rate).
I've heard of large firms stop making payment on commercial real-estate. How the heck does this work? If a regular person would do that on a mortgage, their credit would be destroyed. So you would still possibly make payments in hope of saving credit (although California is no recourse so not sure if that makes a difference; new york is not and companies are also stopping payments on properties there). Anyone have an explanation?