March 15, 2025

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Tamares Group Defaults on $365M Times Square Plaza Loan

  • August 14, 2024

The jumbo loan backed by Times Square Plaza, an office tower in the heart of Midtown, transferred to special servicing this month for imminent maturity default after its owner failed to lock down new financing. Longtime landlord The Tamares Group started shopping for debt in January to replace the $365 million loan coming due in

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Property

Surge In Distressed Property Sales In Hong Kong

  • July 14, 2024

Higher-for-longer interest costs and ample retail and office vacancies have pushed the sales of distressed investment properties in Hong Kong higher in the second quarter, a trend realtors expect to continue in an already tepid real estate market. An increasing acceptance among lenders and landlords to book steeper losses has driven up the number of

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