RFR Holding claims it will resolve its debt problems without selling its Class A office buildings, amidst reduced property values and rising interest rates, indicating a challenging financial landscape.
Despite RFR's optimism, the reality is that office building values have depreciated significantly, and with lenders tightening loan-to-value ratios, it remains uncertain if RFR can secure refinancing for its properties.
SL Green's acquisition of a distressed loan from RFR illustrates a strategic move to recapitalize and revitalize a vacant property, proving that severe financial adjustments are becoming necessary.
The actions of banks regarding struggling office buildings signify a reluctance to foreclose, yet RFR's ability to convince other lenders to adjust terms on distressed properties is still in question.
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