Office-real-estate

WeWork to exit bankruptcy after judge approves restructuring plan

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WeWork to exit bankruptcy after judge approves restructuring plan

A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and hand the company’s equity over to a group of lenders and real estate technology company Yardi Systems. Flexible workspace provider WeWork expanded at breakneck speed, opening its first location in … Read more

Canadian banking regulator says real estate, mortgages pose risk to financial systems

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Canadian banking regulator says real estate, mortgages pose risk to financial systems

Canada’s banking regulator says real estate secured lending and mortgages are among the top risks the country’s financial system is facing, as higher interest rates pressure borrowers. In its annual risk outlook, the Office of the Superintendent of Financial Institutions )OSFI) said as homeowners renew their mortgages, they could potentially face a payment shock due to … Read more