Reports on the death of offices are "just wrong," JPMorgan's commercial real estate chief said.
Office buildings are losing value as more people opt to work from home and companies need less space.
No 'catastrophe' for the office market"You get the headline written that the office market is a catastrophe," Brooks said during a JPMorgan outlook webinar on June 1.
In April, Blackstone announced the final close of its Blackstone Real Estate Partners X, the largest real estate fund ever raised, with $30.4 billion in capital commitments.
Through its real estate investment trust, Blackstone has maintained some exposure to office buildings.
Persons:
Blackstone, delinquencies, Alfred Brooks, Brooks, JLL, Manus Clancy, JPMorgan —, hasn't, They're
Organizations:
JPMorgan, Blackstone, Blackstone Real Estate Partners
Locations:
Brookfield, Blackstone, Los Angeles