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Signs of the coronavirus’ impact on the CRE capital markets are mounting. Yesterday, the Wall Street Journal reported that SL Green’s deal to sell the former New York Daily News headquarters for $815 million has reportedly fallen through after Deutsche Bank backed out of the financing, which would have been packaged in a CMBS. The WSJ also reports that Citigroup may find itself stuck with a $2 billion loan it made to Blackstone and a MGM spinoff for their billion-dollar casino property transactions earlier this year that was intended for the CMSM market.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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