By The Tim on December 28, 2009
A great article in today’s Seattle Times by Eric Pryne gives a nice review of 2009 in commercial real estate around Seattle.
In 2007, developers excavated a deep hole in downtown Seattle at Second Avenue and Pine Street for the foundation of a 23-story luxury hotel and condo tower.
They filled the hole in 2009.
That pretty much [...]
Posted in News | Tagged commercial, Pryne, Seattle_Times
By The Tim on November 11, 2009
With the news in September that Seattle is #1 for delinquent construction loans, it probably comes as not much of a surprise that Washington State also happens to rank #1 in the nation for troubled banks, according to Calculated Risk’s unofficial problem bank list.
State
Percent
Washington
26.3%
Utah
25.0%
Arizona
21.3%
Nevada
20.0%
Oregon
19.5%
Georgia
19.2%
California
17.8%
Florida
16.3%
Michigan
13.2%
Maryland
10.8%
Colorado
10.6%
This week we looked over the numbers to determine which states have [...]
Posted in News | Tagged banks, Business Journal, Calculated_Risk, commercial, lending, troubled-banks
By The Tim on October 20, 2009
I received the following request from a KUOW reporter that I thought was worth forwarding on to the general reading audience:
Another of our reporters is working on a story on commercial real estate investment. I recognize that your blog follows residential real estate more closely, but I know many of the people reading it are [...]
Posted in News | Tagged commercial, investment, KUOW, radio, survey
By The Tim on September 11, 2009
I posted about this earlier this week on the official Seattle Bubble Twitter account, but I thought it would be worth a post of its own. Via The New York Times: Construction Loans Falter, a Bad Omen for Banks
Even as the economy may be starting to recover, banks across the country are confronting a [...]
Posted in News | Tagged banks, commercial, construction, New York Times
By The Tim on July 10, 2009
Speaking of developers having financial trouble, the Puget Sound Business Journal has a story up today about a major local commercial developer on the rocks: Developer Mike Mastro’s troubles mount.
A longtime, prominent Seattle developer is facing a mounting string of legal actions as he struggles to pay off millions of dollars in loans at dozens [...]
Posted in News | Tagged Business Journal, commercial, Mastro
By The Tim on June 22, 2009
Thanks to everyone who responded to the call earlier this month from KUOW for help on their story about the soft market.
Here’s the resulting piece: It’s a Tenants Market for Downtown Seattle Office Space
There may be signs of recovery in the region’s housing market, but not so for the region’s office market. A recent survey [...]
Posted in News | Tagged commercial, downtown, foreclosures, KUOW, NPR, office space, radio, short sales
Recent Comments