Tishman Speyer Secures Jacx Loan Extension

Tishman Speyer secures a loan extension for Jacx property in Long Island City, injecting $20 million of their own cash. The deal offers a three-year term with an option for another year and a half, contingent on meeting financial targets. The propertys value has plummeted from $860 million to $480 million, with significant vacancies. Tishman replaced WeWork with their co-working brand and is focusing on the developments quality to stabilize the propertys performance. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2a096c65ab01e452