Random header image... Refresh for more!

The poster child real estate deal of the last market boom…

by Dave

is likely to go into default…on a $3 billion first mortgage.

The property was purchased in 2006 for a record $5.4 billion.  If it’s worth $3 billion today, the lenders ought to consider themselves lucky.

I could write pages on the underlying story here but I’d rather not bore anyone.

Bookmark and Share

Share and Enjoy
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Fark
  • Reddit
  • SphereIt
  • Yahoo! Buzz

Random Posts...