New office construction faces twin post-COVID-19 pandemic pressures. On the one hand, higher Federal Reserve interest rates designed to fight inflation that arose from pandemic supply chain shortages make it harder and more expensive to finance new projects.
San Francisco-based firm Spear Street Capital picks up SoHo commercial building for $48.1M crainsnewyork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crainsnewyork.com Daily Mail and Mail on Sunday newspapers.
Wells Fargo provided the financing for the downtown project. Intercontinental Real Estate Corp. has obtained $145 million in financing for the construction of Porte Apartments, a market-rate, mixed-use development in Chicago’s West Loop neighborhood.