It used to be that letters from the federal government would cause concern over a potential draft notice or tax audit. Add in a new one for commercial real estate: worry that they won’t need that office building any more.

A letter this week to President Biden from The Real Estate Roundtable — backing firms including Brookfield Properties, Blackstone, Empire State Realty Trust, Starwood Capital, as well as multiple major banks and CRE professional organizations — emphasized just how concerned many in the industry have become.

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Erik Sherman

 

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