4 ms·
Companies who own city real estate are getting screwed. This includes all the big tech companies. That real estate is no longer an appreciating asset, and canno
by shrimpx 3y ago
Companies who own city real estate are getting screwed. This includes all the big tech companies. That real estate is no longer an appreciating asset, and cannot be converted to residential, when the prospect is the collapse of downtowns due to people migrating out to smaller places.
- jandrewrogers 3y agoIt isn't just companies. For example, one of the most central parts of downtown Seattle is owned by the University of Washington[0], a government institution. Some of their leases are structured as revenue share on the real estate. This is both an asset they borrow against and a source of income. [0] https://en.wikipedia.org/wiki/Metropolitan_Tract_(Seattle) https://en.wikipedia.org/wiki/Metropolitan_Tract_(Seattle)