http://reitwrecks.com/2008/08/how-could-my-big-beautiful-loan-go-so_16.html High Yield REITs And Commercial Real Estate Mon, 14 May 2012 19:14:13 -0700 hourly 1 http://wordpress.org/?v=3.1.2 http://reitwrecks.com/2008/08/how-could-my-big-beautiful-loan-go-so_16.html/comment-page-1#comment-277 Long Odds For Apartment Owners In Vegas; Prices Down By At Least 60% | REIT Wrecks Fri, 12 Mar 2010 06:14:23 +0000 http://reitwrecks.com/wordpress/?p=81#comment-277 [...] The Riverton, a massive 1232 unit behemoth of bricks that was purchased in 2006 for $340 million, is a great example. The buyers purchased the property using a first mortgage with day one debt coverage of .39x, which meant that the loan had absolutely no hope of being paid through existing cash flow. [...] [...] The Riverton, a massive 1232 unit behemoth of bricks that was purchased in 2006 for $340 million, is a great example. The buyers purchased the property using a first mortgage with day one debt coverage of .39x, which meant that the loan had absolutely no hope of being paid through existing cash flow. [...]

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