believe those who are telling U.S. that commercial RE is not in serious trouble...
Delay and deny.
These three Seattle Times Articles are stunning.
In there empty promises and/or premises.
All of that investment money, almost all of it borrowed, now gone.
Into each life a little rain must fall....
In Seattle, even that is a wee skoshi bit higher.
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Double whammy hits big local real-estate portfolio
A Goldman Sachs affiliate paid $930 million for 11 Seattle and Eastside office properties in 2007 but now — as a balloon payment looms ever larger — it's reeling from plunging real-estate values and emptied cubicles.
http://seattletimes.nwsource.com/html/businesstechnology/2013214897_archon24.html
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Westlake Center, Amazon.com Tower among other troubled properties
Several other prominent Seattle office towers also have big loans coming due that are at risk of default, according to analysts
http://seattletimes.nwsource.
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Office vacancies flat in Seattle and Eastside
Vacancy rates and rents for office space changed little during the last quarter, but that in itself is a change from the soaring vacancies and free-falling lease rates of a year ago.
http://seattletimes.nwsource.
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