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Title: Facing "Unprecedented Challenges" And Soaring Rates, PIMCO-Owned Landlord Defaults On $1.7 Billion In Office Mortgages
Source: [None]
URL Source: https://www.zerohedge.com/markets/f ... d-landlord-defaults-17-billion
Published: Feb 23, 2023
Author: Tyler Durden
Post Date: 2023-02-23 23:03:33 by Horse
Keywords: None
Views: 34

“We, like most office owners, are addressing the unique and unprecedented challenges currently facing our asset class and customer base,”

Poster Comment:

PIMCO (Pacific Investment Management Company, LLC)

PIMCO initially functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. The firm was founded in 1971,[2] launching with $12 million of assets. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz

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