Major Developer RXR Initiates $1B Fund for Acquiring Distressed New York Office Properties
CREtech
Thanks for keeping up with the CREtech Community in the News! For more news, follow us on Linkedin. New York-based property developer RXR, led by CEO Scott Rechler, is launching a $1 billion fund in partnership with Ares Management to invest in distressed office buildings in the city. The move signals a potential shift in the commercial real estate crisis, with a focus on acquiring underperforming office properties. RXR and Ares plan to target a segment of office buildings that may require fres…