N.C. is high in 'troubled assets'
The News and Observer reports: When it comes to snarled developments and debt-burdened landlords, North Carolina is up there -- No. 10, to be precise.
At least, that's according to a New York real-estate researcher tracking more than 6,357 planned developments and properties across the country.
Real Capital Analytics recently compiled the "Troubled Asset Radar," a massive list of stalled or canceled projects, over-leveraged landlords and property loans that are maturing amid a credit crunch.
A year ago, we knew that the plight of developers and landlords would dim as lenders twisted the tourniquet on the real-estate industry's lifeblood. But we couldn't put numbers to the hunch.
Real Capital tells us that, in North Carolina, 202 properties worth $5 billion were considered distressed. The state ranked seventh in stalled developments, with 85, and sixth in distressed retail properties.
View the full article on The News and Observer: N.C. is high in 'troubled assets'
Posted by: Nina Turner