The owners of a premier San Francisco office tower plan to forfeit the property to their lenders, the city's second distressed transaction involving a major commercial building in recent weeks and another sign of the growing pressures in the sector.
"San Francisco will have a whole new slate of players within three years," said David Klein, senior vice president with San Francisco brokerage NAI BT Commercial. |
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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.
