Top 2024 US Office Deals Show Survival Strategy in Brutal Market
- Owners started to confront steep drops in valuations
- Challenges ahead include $300 billion needing refinancing
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For the beaten-down US office market, 2024 was a year of diverging fortunes for owners as transactions started to pick up.
Office landlords, confronted with the reality of plunging valuations, started to strike deals to sell properties they no longer wanted — often at steep price cuts — while scoring new equity investments on high-quality towers. Overall, US office sales volume for the year through November jumped 17% from the same period a year earlier, according to MSCI Inc. data.