RCA in the commercial property press:

Lenders get back nearly 60% on foreclosures

Silicon Valley/San Jose Business Journal reports: Lenders recovered almost 60 percent of the loan value for properties that were foreclosed in 2009, according to an analysis by Real Capital Analytics.

In a report released Thursday, the New York firm said lenders recovered $1.9 billion on 145 defaulted commercial mortgages totaling $3.2 billion.

In an indication that more is yet to come, Dan Fasulo, managing director for Real Capital, said in an e-mail, "For the entire U.S. we have only been able to track 145 recovery rates — that’s how little of the distress has been cleaned up until now."

Articles related to this topic:

 Distress: The Waiting Game
 Commercial real estate crisis threatens recovery
 Facing the next real-estate collapse
 Morgan Stanley Takes $251 Million Charge for Crescent
 R&D, Office Vacancies In Silicon Valley Climb In Q3
 Starwood Completes $144 Million in Investments in First 60 Days
 FDIC Moves to Stave Off Distress

Posted by: Matthew Stone

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