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PGIM CEO Expects 60% of Office Buildings to Enter Purgatory

David Hunt expects a major shakeout because most buildings aren’t up to the standards companies expect.

Talk about grim. PGIM Chief Executive Officer David Hunt’s take on the future of office properties is dimmer than major east coast metro skylines have been in the face of all the wildfire smoke coming down from Canada, and that’s saying a lot.

“We are going to have a big workout for that purgatory set over the next 24 months,” Hunt said Wednesday at the Bloomberg Invest conference, as Bloomberg reported. “Prices will come down.” And where they will really plunge is in older buildings.

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Erik Sherman

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