Weekend Wrap-Up: The Defaults Wave Cometh, Rising Interest Rate Caps Worry Borrowers, and Biden Aims at Real Estate Tax Breaks

    [A Flood of Defaults Swamps Big Names and Big Properties, Especially Offices]( [The dam holding back default filings — especially in the office market — clearly has burst.](   [Rising Interest Rate Cap Costs Pressure CRE Borrowers]( [Soaring costs for interest rate caps are further pressuring commercial real estate property owners saddled with floating-rate debt.](   [Biden Looks to End ‘Sweetheart’ Deals for Real Estate and Billionaires]( [President Joseph Biden released a proposed 2024 budget on Thursday in which he pitched eliminating tax breaks for real estate.](   [Bank of America’s Maria Barry On Financing Affordable Housing Post-COVID]( [The national executive for B of A’s Community Development Banking sees momentum for new projects nationally despite rising interest rates.](   [Where Are the Women in Investment Sales?]( [Other areas of the industry have diversified in recent years — not so the field of trading buildings and sites.](   [Swaroopa Penikelapati On Breaking Down Silos and Fostering Proptech Talent]( [The technologist arrived in the C-suite via India and the Deep South.](   [Work & Mother Aims to Make Lactation Suites an Office Staple]( [Abbey Donnell founded Work & Mother to offer luxuriously designed lactation rooms as office amenities at the building level.](   [DC Leads U.S. With Women in Construction Jobs]( [Four women in the D.C. region talk about their experiences in the construction industry.](   [More Changes Coming to LA’s Al Fresco Dining Program]( [L.A. officials this week vowed to make a new permanent outdoor dining ordinance just as seamless as the temporary system from the pandemic.](   [StubHub Consolidates NYC Offices to 44K SF at 3 World Trade Center]( [StubHub has found a new assigned seat for its New York City offices at 3 World Trade Center.](   To forward this newsletter to a friend, [click here](. To manage your email preferences or unsubscribe [click here](. Visit the [Commercial Observer]( for the latest commercial real estate news. For advertising information, [download the media kit](. © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 03/11/2023. [View this email in a browser](.