Distressed Office Property Count Set To Shrink, More Loan Troubles in Downtown Philadelphia, Final Offers Being Reviewed for Florida Mall

Distressed Office Property Count Set To Shrink, More Loan Troubles in Downtown Philadelphia, Final Offers Being Reviewed for Florida Mall

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Distressed Office Property Count Set To Shrink: The number of office properties backed by commercial mortgage-backed securities loans in special servicing moved slightly higher in November, increasing by just 1.1% after surging 13% the previous month. The number now stands at 762 buildings, according to CoStar data. The vacancy rate of that group of properties is 30%. Office buildings make up 31% of all property types in special servicing.

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