PIMCO-Owned Columbia Property Trust Defaults on $1.72 Billion of Floating-Rate Mortgage Notes for 7 Buildings in United States, Acquired in 2021 for $3.9 Billion
25th February 2023 | Hong Kong
PIMCO-owned Columbia Property Trust has defaulted on $1.72 billion of floating-rate mortgage notes for 7 buildings in United States, acquired in 2021 for $3.9 billion. According to CoStar data, the floating-rate mortgage notes interest rate is currently at 5%, and has defaulted for 30 days. Columbia Property Trust owns properties in New York, San Francisco, Washington D.C., and Boston. PIMCO manages around $1.74 trillion in assets, including $1.38 trillion in 3rd-party client assets (31/12/22).
“ PIMCO-Owned Columbia Property Trust Defaults on $1.72 Billion of Floating-Rate Mortgage Notes Currently at 5% for 7 Buildings in United States, Acquired in 2021 for $3.9 Billion “
PIMCO-Owned Columbia Property Trust Defaults on $1.72 Billion of Floating-Rate Mortgage Notes for 7 Buildings in United States, Acquired in 2021 for $3.9 Billion
About Columbia Property Trust
Columbia Property Trust creates storied properties for legendary companies in New York, San Francisco, Washington D.C., and Boston. Columbia uses its experience in transactions, asset management and repositioning, leasing, development, and property management to grow value across its high-quality, eight million square foot portfolio of owned and managed assets.
About PIMCO
PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50 years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
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