Commercial Real Estate - calSTRS

Rising interest rates and WFH is now seriously undermining the commercial real estate market:

One of the biggest public pension plans in the US is preparing to write down the value of its $52bn real estate portfolio in the latest sign that higher interest rates and the recent turmoil in the banking sector are causing pain in the property sector.


I wonder what politically connected bank is on the hook? There is a big push to end WFH in the Federal Government.


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