VALUE OF RESILIENCY

Key real estate assets that have performed well during the pandemic appear to have attracted the attention of investors. The iconic Royal Bank Plaza comprised of two towers and a retail concourse are being offered for sale. RBC occupies about 40% of the office space and the remainder appear to have to have strong enough covenants that Oxford Properties is attempting to capitalize on this opportunity. One of the residual impacts of COVID is that it distinguished between strong and weak assets. It will be interesting to see if this property transacts and on what terms relative to other office assets. #commercialrealestate #rbc #resiliency #covid19 #recg