http://reitwrecks.com/2009/01/bostons-hancock-tower-goes-into-default.html High Yield REITs And Commercial Real Estate Wed, 08 Feb 2012 18:27:43 -0700 hourly 1 http://wordpress.org/?v=3.1.2 http://reitwrecks.com/2009/01/bostons-hancock-tower-goes-into-default.html/comment-page-1#comment-579 Dead on Arrival: Geithner’s Plan Can’t Stop The Tidal Wave of Commercial Mortgage Maturities | REIT Wrecks Fri, 26 Mar 2010 23:59:35 +0000 http://reitwrecks.com/wordpress/?p=190#comment-579 [...] Many equity investors are likely to get wiped out in the tempest that will ensue when these loans mature, and I wrote about the math behind this certainty in The Coming Bust in Commercial Real Estate: Why Developers Are Desperate For the Dole. That post illustrated how a building worth $100 million at the peak is only worth $74 million now, but a 36% decline in value may be the best one could hope for these days. Yesterday, Bloomberg reported that lenders believe the value of the Hancock Tower in Boston may have declined by 50% [...] [...] Many equity investors are likely to get wiped out in the tempest that will ensue when these loans mature, and I wrote about the math behind this certainty in The Coming Bust in Commercial Real Estate: Why Developers Are Desperate For the Dole. That post illustrated how a building worth $100 million at the peak is only worth $74 million now, but a 36% decline in value may be the best one could hope for these days. Yesterday, Bloomberg reported that lenders believe the value of the Hancock Tower in Boston may have declined by 50% [...]

]]>