Most of the properties are in the Sunbelt.

The project will feature 191 units.

"Things slowed down tremendously," James Koman said.

Rastegar's CEO said he is seeing "ridiculously low offers" on its properties.

The buildings are fully leased to a global e-commerce leader.

It consists of five buildings.

Over 100 condominiums are set to be offered.

The loan will help transition to the office into a larger multifamily space.