From the downturned commercial real estate property market for the last few years, one could not hear good news of purchase activity often. But with signs of market rebound appearing in the commercial property horizon, we are coming across such news from the media of late. The San Francisco Bay Area of California, one of [...]
The former 1515 condominium on Flagler Drive in West Palm Beach, the Gulfstream Hotel in Lake Worth and the Omphoy Ocean Resort have fallen into foreclosure as the have a total of $108 in loan default. The 1515 condo owned and planned by Trinity is a modern 24 story, $150 million condo. Trinity was sued [...]
The Minnesota Center, One Financial Plaza and Hotel Sofitel defaulted on their loans. They are currently in negotiations to restructure the loans which counts $88 million. Industry Experts say that these defaults were one of the biggest incidence of non-payments that could lead to eventual foreclosure. According to a recent report published by a commercial [...]
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