Houston Tops Texas CRE Distressed Markets
Houston Business Journal reports: Houston ranks as the top Texas market for distressed commercial real estate by total property investment volume, according to data released by Real Capital Analytics Inc.
The Troubled Assets Radar report data shows that Houston had 211 troubled assets valued at $4.8 billion as of Dec. 3, while Dallas-Fort Worth was second in the state at $4.4 billion.
Nationwide among metropolitan areas, Houston ranked ninth.
The apartment sector had the most troubled assets with 85, valued at $1.12 billion. Next was retail with 67 distressed properties valued at $1.05 billion, followed by the hotel sector with 22 properties valued at $188 million. Meanwhile, the office sector had 19 distressed properties valued at $2.4 billion.
Troubled assets are considered properties with foreclosure, bankruptcy and restructured/modified statuses.
Real Capital ranks the cities by the estimated dollar value of the distressed assets compared to the size of each market. It bases market activity on the total transaction volume in each market from the past four years.
Leading all distressed markets is Las Vegas, which has 252 troubled assets valued at $17.7 billion, the report said.
View the full article on Houston Business Journal: Houston Tops Texas CRE Distressed Markets
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Posted by: Matthew Stone