Toronto’s Centre for Social Innovation to sell Annex coworking space; cites rising interest rates, downturn in coworking revenue
The nonprofit organization hopes to fetch more than $20 million for the property, shoring up its financial position
Why It Matters
Rising interest rates are making it more difficult for non-profit landlords to hang on to existing properties or create new ones, reducing the availability of commercial space for charities, non-profits and social entrepreneurs.
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