Michael Ashner, the chairman and chief executive of the Boston-based distressed real estate investor Winthrop Realty Trust, announced this May that his company plans to liquidate its assets over the next two years. That includes an $869 million portfolio containing 5.3 million square feet of rentable space and loan assets worth $58 million, according to data from the CoStar Group. Mortgage Observer takes a look at some standout quotes from the veteran real estate executive.
Mix and mingle alongside 500 industry insiders, tonight at the 22nd Annual RELA Networking Celebration. Hosted at Cipriani la Specialita, just across the street from Grand Central Station, the event promises to kick off the new year in style, offering opportunities for established leaders and up-and-comers alike to share in the excitement of what 2013 has in store.
The Real Estate Lenders Association, Inc. is a not-for-profit corporation formed in 1991 to provide a forum for real estate lenders and equity investors to advance their knowledge and expertise in their industry. Membership is exclusive to institutions involved in commercial real estate debt and equity. Members receive unparalleled access to networking, education and career growth opportunities. To join, click here.
Commercial Real Estate Default Rates Rise
The default rate for commercial real estate mortgages held by the nation’s banks increased from 3.8 percent in the fourth quarter of 2009 to 4.2 percent in the first quarter of 2010. This is the highest default rate reported since 1992, the first year for which Read More