Third Point Real Estate manager preps for distressed office debt

— the specialists in handling debt in danger of default — since 2010 seems to confirm that prognosis.

"It's a foolish debate that office is going to become extinct," Scavone told Insider."That's not going to happen. Is it because downtown San Francisco is somewhat of a difficult commute from suburbs in Marin County or the East Bay? There's a direct correlation between commute times and the rate at which people are returning to the office.

Even in strong multifamily markets, the owner's cost basis is often too high to economically facilitate the conversion. But this is not a bad thing. People are by nature social explorers. And being isolated through the workday has negative psychological repercussions. People should want to get out. It's healthier and they will better develop as professionals.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Real-Estate Market Caught in a Tangled Web of Ownership and DebtOne of the world’s most overstretched real-estate markets has a knotty problem. Many of its top property tycoons own stakes in rival companies—and when one firm wobbles, others can feel the pain.
Source: WSJ - 🏆 98. / 63 Read more »