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Prudential Takes Back Torre Plaza

February 16, 2010

It was imminent, but Prudential has taken back Torre Plaza from RREEF/Snell in a non-judicial foreclosure action. The building was taken back on a credit bid of about $17.6M or $187 psf, which it is not worth.

We first wrote up a post about the default back in October. This ended up being a raw deal for both Prudential and RREEF, and likely Snell aside from the nice acquisition fee they took

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Categories: Commercial Real Estate Investing | Notable Deals
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