From Nasdaq:

Real estate developer RXR, led by CEO Scott Rechler, launches a $1 billion fund for distressed NYC office buildings, partnering with Ares Management. Rechler seized the opportunity created by uncertainties around interest rates and remote working. Focusing on buildings that may need extra investment, they plan to invest $500 million initially, with an additional $500 million. (source: Benzinga)

Financial Times reported RXR and Ares investing in New York City’s distressed office buildings due to the recent thaw in the office market. They are focusing on class-A properties and are targeting a specific segment. The investment strategy is influenced by the significant amount of commercial mortgages due for maturity this year. Also, the impact of remote working and the spike in interest rates make high-quality properties undervalued. (source: The Financial Times)

A $1 billion fund is launched to invest in New York City’s distressed office buildings. RXR, collaborating with Ares Management, is targeting class-A properties in the office building market. A unique investment opportunity was created by the impact of remote working on office space demand and recent interest rate spikes. (source: Benzinga)



Read more: RXR Launches $1 Billion Fund To Revive New York City’s Office Building Market