by Kipp Gillian | Apr 1, 2024 | Distressed Assets
A Florida-based investor has purchased the distressed Schaumburg Towers office complex after an auction for the property failed to attract offers. A venture led by Sigma Plastics Group founder Alfred Teo acquired the two 20-story office towers at 1400 and 1450...
by Kipp Gillian | Mar 28, 2024 | Distressed Assets
South Korean investment manager Consus Asset Management has agreed to pay $145 million, or $145 per square foot, for the one-million-square-foot office tower at 777 S. Figueroa St. in Downtown Los Angeles, reported Bloomberg News. The company is buying...
by Kipp Gillian | Mar 28, 2024 | Distressed Assets
Commercial property foreclosures in 2024 totaled 705 through February, Trepp reported, citing data from ATTOM. That’s an increase of nearly 8% from the 655 foreclosures in the year-ago period. ATTOM recorded 4,968 foreclosures in 2023, up 46% from 2022, when...
by Kipp Gillian | Mar 28, 2024 | Distressed Assets
Less than two years after changing hands, The Optimist Lofts in Atlanta’s Piedmont Heights has returned to its lender, according to the Atlanta Business Chronicle. LoanCore Capital, which extended a short-term mortgage to the owner in 2022, was the highest bidder at a...
by Kipp Gillian | Jan 23, 2024 | Distressed Assets
Summit at Salado Creek and The Canopy Apartments are being auctioned off, victims of the tenuous borrowing climate. The San Antonio Business Journal reports the two are slated for a distressed sale next month after their owners defaulted on tens of millions of debt....
by Kipp Gillian | Jan 22, 2024 | Distressed Assets
Ares Commercial Real Estate has requested foreclosure over a $127 million loan on a property at Live Oak and Texas Streets in Dallas. The property includes the Gabriella apartments and a ground-floor Tom Thumb grocery store. The loan was originated by an affiliate for...
