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That makes two downtown high rises in default that I’m aware of. Feels like a snowball is beginning to roll…
Agreed. FED is looking to reduce rates this year but will it be enough to refinance new debt for these buildings. Only time will tell.
Big buildings, balloon payments, and high interest rates don’t mix.
Hardly exclusive to Indy. These office towers are just far less valuable nowadays
The end of Downtown Indy….
They never should have stopped allowing fireworks from the roof of the building.
Huge, actually massive, investments in downtown Indy…the urban core has real momentum. This is more like the beginning of a new area for downtown office buildings, nationwide.
The commercial real estate Sunami has been brewing since the plandemic!