THE COST OF DEBT | Mohamed A. El-Erian @ele

The lender, Apollo-owned Bridge Investment Group, is now working to sell the loan.

Its cost of debt has effectively wiped out the firm’s equity in the property, giving it little reason to hold on, according to real-estate brokers.”

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Mohamed A. El-Erian

@elerianm

Good morning. The WSJ on a risk that industry insiders I follow worry could spread as more debt refinancing deadlines hit: “Brookfield is exiting the property rather than refinance the building’s roughly $360 million loan, which would have required tens of millions in additional costs because of today’s high rates, according to people familiar with the matter. The lender, Apollo-owned Bridge Investment Group, is now working to sell the loan. Its cost of debt has effectively wiped out the firm’s equity in the property, giving it little reason to hold on, according to real-estate brokers.” #economy #markets #RealEstate #debt

@WSJ

2:13 AM · Nov 3, 2026

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