Fitch Ratings recently reported the transfer to special servicing of the $180 million first mortgage secured by the 1.6 million square foot, 60-story Comerica Tower located in downtown Dallas. Metropolitan Real Estate Investors bought the property in 2006 for $216 million, which appears to be an 8.3% cap on in place ... More
Archive for May, 2011
REO Monitor: Comerica Tower, Dallas, TX
Monday, May 16th, 2011REO Monitor: One Superior Place, Chicago
Wednesday, May 11th, 2011Hartz Mountain has acquired One Superior Place from Brookfield Asset Management. Way back in December 2009, Brookfield took over a 7-property, 3,900 unit portfolio from Stellar Management, of which One Superior Place was one. Stellar Management previously acquired One Superior Place for $218 million in August 2007 from Archstone and ... More
Moody’s CPPI drops 4.2 percent in March
Tuesday, May 31st, 2011Moody's Commercial Property Price Index (CPPI) fell 4.2 percent in March. This drop makes for 4 months of consecutive declines for the index and marks a new post bubble low, resting at 101.17. Find the full report on RealIndices.com or RCAnalytics.com. The reason for this decline? Moody's: Nearly one third of ... More
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