The final quarter of 2008 saw a 27 % increase in troubled real estate assets for lenders headquartered in Massachusetts according to data compiled from the FDIC. Only lenders headquartered in Massachusetts with balances of REO or Non-accrual totaling $1Million or more were included in the survey. REO (also OREO or Other Real Estate Owned) balances [...]
Thursday, March 5, 2009
The struggles at the Hancock Building have been well publicized by now and General Growth’s trouble leaves the control of Fanieul Hall in question, but what’s next? According to The Watchlist from CoStar today 90 Tremont Stret in Boston has hit the skids due to low vacancy and a loan mautrity of May 1st. Investors can count [...]
Wednesday, October 29, 2008
In this credit crisis we haven’t seen widespread commercial real estate foreclosures and default…so far. But that doesn’t mean the sector is impervious to distress. The Wall Street Journal reported: One sliver of the commercial-lending market — securitized mortgages — carries a delinquency rate of 0.54% representing $4.6 billion, according to credit-rating firm Realpoint LLC. Some analysts [...]
Tuesday, October 14, 2008
Today I’m at a 75,000 +\- square foot commercial space that my client is foreclosing on. This property is located in the Boott Mills in Lowell, MA. It is highly likely that we are going to see an increase in commercial property foreclosures over the next several years. If you are liquid this is a [...]
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Monday, March 16, 2009
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