Reports proclaiming the recovery of the US commercial real estate sector may well prove to be premature, despite the celebrations of some investors pronouncing its comeback. Despite a number of high profile deals involving marquee properties in some of the biggest US cities, commercial property values are still badly depressed throughout the country, and they
Trouble Brews for Anglo Irish Bank Over Mark Hotel Deal
March 19, 2011 by
The Anglo Irish Bank has pulled out of a loan deal with one of the most exclusive of New York’s hotels, accepting a discount of $100 million on the loan in order to extricate itself from the deal. The $300 million loan deal connected to Manhattan’s luxury Mark Hotel was sold for just $190 to Dune Real Estate Partners investment firm.
