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GSK’s Former North American Headquarters Sells in Foreclosure, Loan Shows Office Refinancing Difficulty, CMBS Payoffs Plummet

A Weekly Look at the Commercial Mortgage-Backed Securities Business
A transfer of title is in the works for GlaxoSmithKline's former Philadelphia headquarters building. (CoStar)
A transfer of title is in the works for GlaxoSmithKline's former Philadelphia headquarters building. (CoStar)
CoStar News
August 1, 2024 | 2:01 P.M.

This week’s column examines the foreclosure sale of a former GlaxoSmithKline office, a New York office loan that shows the difficulty of refinancing in today’s market, and falling payoff rates for commercial property debt. Read the entire piece by clicking “read more” below.

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