Viewing a single comment thread. View all comments

EntertainmentTop7754 t1_j9w37j2 wrote

Reply to comment by FlaxxSeed in Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage by downboat

Why? The building didn’t do anything wrong. The Pension Fund Advisor overpaid and used the wrong capital structure (variable debt) to buy it. The bank will take it back and resell it to someone else at a revised mkt price to get their proceeds.

1

FlaxxSeed t1_j9ygngp wrote

Just a dream of seeing less ugly, crappy, disease ridden buildings is all.

1