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Tribeca Forecloses on Lembi Buildings

December 30, 2009

Tweet The saga continues….Lembi subsidiary Trophy Properties has given several more properties back to Tribeca. Trophy Properties has lost a few more properties in the city and the peninsula. Some of the properties foreclosed on today as part of a loan originally made by UBS include: San Francisco 2642 Gough Street – 6 Units 2011 […]

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Retail Comp in Burlingame

August 12, 2009

Tweet Another retail deal has closed locally, and that is 1348 Burlingame Avenue in Burlingame. The 6,000 SF retail site located on 7,200 SF parcel in Burlingame is leased 2/3 to Verizon Wireless and a Pea in the Pod. The property was listed for $6.5M and closed at $5.9M, representing a 7.5% cap rate for […]

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30% of iStar Financial’s Loans are Non-Performing

February 28, 2009

Tweet iStar Financial (SFI: 0.00 N/A), a commercial mortgage REIT that had been an active player of the past few years, is in dire straits with an some 23-30% of its loan portfolio not performing. The company acquired the assets of Fremont Investment & Loan, a notorious lender on highly speculative condo and housing projects. […]

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