Office Properties Nears Deal to Transfer Ownership to Creditors

Office Properties, the bankrupt owner of over 120 office buildings, is close to finalizing a deal to resolve its restructuring case. Bloomberg posted on X that the agreement involves transferring ownership to creditors, which will reduce the company's debt by $700 million, bringing it down to approximately $1.7 billion. This move is part of the company's efforts to manage its financial challenges and streamline its operations.