The daughters of late Westfield co-founder John Saunders have experienced significant losses in their real estate investments due to the pandemic, rising interest rates, and a decline in commercial property values. Filings reveal a portfolio worth $1.85 billion.
The billionaire daughters of late Westfield co-founder John Saunders were forced to write down the value of their real estate investments by more than $100 million in the two years after the pandemic, amid rising interest rates and a massive slump in commercial property prices .
Previously unreported filings for Terrace Tower Group, owned by Mr Saunders’ family, reveal assets worth $1.85 billion including an extensive portfolio of private and public equities.
Real Estate Investments Billionaires Pandemic Property Prices
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