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Billionaire Starwood CEO Warns of $1 Trillion Losses in Ailing Office Market

The ailing office market is headed for $1 trillion of losses, billionaire and Starwood Capital CEO Barry Sternlicht said. Per Bloomberg, Sternlicht said at the Global Alts conference in Miami Beach that US office properties, once a $3 trillion market, are worth about $1.8 trillion now. The cratering values have been the result of remote work being …

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Financial Climate Change! Billionaire Sternlicht Warns CRE Storm Now “Category 5 Hurricane” (Starwood Defaults On $212.4 Million Commercial Mortgage Loan In Atlanta)

by confoundedinterest17 No, this isn’t a John Kerry/Greta Thunberg hysterical warning about climate change. But a storm created by 1) Biden/Congress spending splurge and 2) excessive monetary stimulypto by The Federal (Feral) Reserve. Now that The Fed is withdrawing the excess stimulus, we are seeing a world of pain for commercial real estate. A financial …

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