Financial Distress - PIMCO and Witkoff Group defaulted on a loan exceeding $400 million tied to a luxury apartment complex [1] Real Estate Market - The loan default is related to a luxury apartment complex in Santa Monica, California [1]

Real Estate & Finance - Australian Retirement Trust is defaulting on a loan related to a US office complex purchase [1] - The office complex was previously occupied by Microsoft [1] - The loan default highlights ongoing challenges for global investors due to companies reassessing their office space needs [1]