CRE Dominoes: 8000 Marina Blvd Defaults
November 12, 2009
8000 Marina Blvd, the 193,519 square feet Class A office project in Brisbane has gone into default. The building was acquired by Broadway Partners in 2006 for approximately $54M ($280 psf). Broadway, on its website is reporting that it disposed of the asset in August of 2007 though we’re not quite sure to who. The [...]
Read More >>CRE Dominoes: FDIC Takes Over Three California Banks
October 30, 2009
The FDIC has shut down three California banks: Pacific National Bank, California National Bank, and San Diego National Bank.
The three banks all were invested heavily in commercial real estate. Pacific National, as it was mentioned in The Registry article as being a lender on Moffett Towers (phase 2), was also involved in other development deals [...]
CRE Dominoes: Capmark Hitting The Fan
October 24, 2009
Well the reports are that Capmark is finally ready to file BK. This was something that has been on the radar for quite some time, but seems things are nearing the end with reports that a filing could come as soon as this weekend. Capmark is/was a large commercial lender, though what this deal will [...]
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