Pimco Is Saddled With a $1.7 Billion Default in Office-Market Meltdown

  • 📰 WSJ
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Pimco bet big on the office market. Now it is saddled with a $1.7 billion default.

In 2021, the asset-management firm known as Pimco banked on an office-market comeback. Interest rates were near historic lows, and the economy was humming. Cities were expecting a surge in newly vaccinated workers returning to the office.

In September that year, Pacific Investment Management Co. said it was acquiring Columbia Property Trust Inc., which owned 19 office buildings in New York, San Francisco, Washington, D.C., and other cities. The deal

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good

그렇군. 로라가 얘기한 대로

They deserve it

I still am not going back to the office.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines