NEROS SIGNS $450M CONDITIONAL LOAN COMMITMENT WITH THE OFFICE OF STRATEGIC CAPITAL TO ESTABLISH AMERICA'S DRONE INDUSTRIAL BASE
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
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On the RET wire
- Disclosed office deal value tracked in November 2026: $2.7B across 5 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
$450M conditional loan commitment from Office of Strategic Capital (OSC) plus $165M in Neros equity committed to vertically integrated drone production and in-house component manufacturing. TORRANCE, Calif., Nov. 2, 2…
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