Another sign the Commercial Real Estate (CRE) crisis is worse than we thought?
— The Kobeissi Letter (@KobeissiLetter) February 1, 2024
The Xerox building in Washington DC just sold for $25 million.
It was last purchased for $145 million just over a decade ago, in 2011.
This reflects an 83% LOSS on the 19-story office building.
The… pic.twitter.com/h5Sl3TyUR6