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Loans for Two Shorenstein Office Buildings Run Into Trouble, Brookwood Misses Payoff on Portfolio, PennCap Seeks New Terms for 31 Properties

A Weekly Look at the Commercial Mortgage-Backed Securities Business
Shorenstein Properties has a $350 million loan on its 1407 Broadway office building in New York. (CoStar)
Shorenstein Properties has a $350 million loan on its 1407 Broadway office building in New York. (CoStar)
CoStar News
September 28, 2023 | 2:04 P.M.

Loans for Two Shorenstein Office Buildings Run Into Trouble: Two Shorenstein Properties loans on East Coast office buildings have transferred to special servicing, typically a sign of weakness for commercial properties. The separately securitized commercial mortgage-backed securities loans total $538 million.

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