Philadelphia’s Largest Office Complex Gets Downgraded: Commercial mortgage-backed securities bonds tied to a loan on 1500 Market St., a two-building, 1.8 million-square-foot property in downtown Philadelphia — the city’s largest office complex have been downgraded by Moody's Investors Service. Moody's said it lowered the ratings due to the loan’s delinquent status after the borrower was unable to pay off a $368 million final payment in December.
Philadelphia’s Largest Office Complex Gets Downgraded, REIT Offers Bonds on 308 Retail Properties, Freddie Mac Boosts Small-Deal Multifamily Financing
A Weekly Look at the Commercial Mortgage-Backed Securities Business
CoStar News
February 9, 2023 | 2:23 P.M.
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IN THIS ARTICLE
- Properties
- West Tower
1500 Market St, Philadelphia, PA
- East Tower
1500 Market St, Philadelphia, PA
- Companies
- Nightingale Properties LLC
Real Estate
- Wafra, Inc.
Finance and Insurance
- Service Properties Trust
Real Estate
- Freddie Mac
Finance and Insurance