High interest rates and low occupancy have created a difficult outlook for office owners and their lenders. — Bloomberg
Quebec’s public pension manager reported a 7.2% return for 2023, as losses in real estate detracted from big gains in its credit and stock portfolios.
Caisse de Depot et Placement du Quebec (CDPQ) has restructured its real estate business, shifting capital to apartments and industrial properties, but it wasn’t enough to offset problems in the office sector.
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