{"id":1004020441,"date":"2010-05-24T12:27:24","date_gmt":"2010-05-24T20:27:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004020441"},"modified":"2022-12-03T00:10:22","modified_gmt":"2022-12-03T08:10:22","slug":"nearly-5b-eop-portfolio-moved-to-special-servicing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nearly-5b-eop-portfolio-moved-to-special-servicing\/","title":{"rendered":"Nearly $5B EOP Loan Balance Transferred to Special Servicing"},"content":{"rendered":"<p>May 24, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<p>According to Fitch Ratings, the balance on a nearly $5 billion loan on an Equity Office Properties Trust portfolio has been moved to special servicing, with &#8220;imminent default&#8221; given as the reason.<\/p>\n<p>Fitch did not list the specific properties or their locations. The balance on the loan is $4.9 billion.<\/p>\n<p>Formed by real estate entrepreneur Sam Zell in 1976, EOP was once one of the nation\u2019s largest owner of office buildings. That changed in February 2007 when the Blackstone Group purchased them for $23 billion along with the assumption of $16 billion in debt \u2013 and then sold $7 billion of EOP\u2019s portfolio to real estate magnate Harry Macklowe. It has been speculated lately that Macklowe\u2019s son, Billy, is angling to part ways with his father and go out on his own. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Fitch Ratings, the balance on a nearly $5 billion loan on an Equity Office Properties Trust portfolio has been moved to special servicing, with &#8220;imminent default&#8221; given as the reason.<\/p>\n","protected":false},"author":936,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21747],"tags":[],"class_list":["post-1004020441","post","type-post","status-publish","format-standard","hentry","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nearly $5B EOP Loan Balance Transferred to Special Servicing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nearly-5b-eop-portfolio-moved-to-special-servicing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nearly $5B EOP Loan Balance Transferred to Special Servicing\" \/>\n<meta property=\"og:description\" content=\"According to Fitch Ratings, the balance on a nearly $5 billion loan on an Equity Office Properties Trust portfolio has been moved to special servicing, with &quot;imminent default&quot; given as the reason.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nearly-5b-eop-portfolio-moved-to-special-servicing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-05-24T20:27:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T08:10:22+00:00\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Nearly $5B EOP Loan Balance Transferred to Special Servicing\",\"datePublished\":\"2010-05-24T20:27:24+00:00\",\"dateModified\":\"2022-12-03T08:10:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/\"},\"wordCount\":142,\"commentCount\":0,\"articleSection\":[\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-5b-eop-portfolio-moved-to-special-servicing\\\/\",\"name\":\"Nearly $5B EOP Loan Balance Transferred to Special Servicing - 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