Loan Extension Buys Time for Office-to-Apartment Conversion: Converting an office building into apartments is not always a quick fix for an uncertain office market. Hertz Investment Group bought itself a couple of extra years to pull off the transformation by working out a two-year extension of a troubled $96.6 million loan backing Gateway Center in downtown Pittsburgh.
Loan Extension Buys Time for Pittsburgh Office-to-Apartment Conversion, Necessity Retail Refinances Ahead of Merger, Fitch Assumes Higher Cap Rates in 2024
A Weekly Look at the Commercial Mortgage-Backed Securities Business
CoStar News
September 7, 2023 | 2:00 P.M.
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IN THIS ARTICLE
- Properties
- Liberty Crossing
5701 Liberty Grove Rd, Rowlett, TX
- Three Gateway Center
401 Liberty Ave, Pittsburgh, PA
- Companies
- The Necessity Retail REIT, Inc.
Real Estate
- Global Net Lease
Real Estate
- Hertz Investment Group
Finance and Insurance