Morningstar Flags $505MM Loan on Meta’s 701,000-SQFT Moffett Towers II Campus in Sunnyvale as Layoffs Mount

Credit analysts have placed the $505 million loan backing Moffett Towers II Buildings 3 and 4 in Sunnyvale under watch after Meta Platforms, the buildings' sole tenant, disclosed a fresh round of workforce reductions that will eliminate hundreds of positions this summer. Morningstar Credit flagged the securitized debt on the two-building campus in a June […]