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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: smolejv@gmx.net who wrote (26207)12/17/2002 1:05:54 AM
From: TobagoJack  Read Replies (1) of 74559
 
Hi DJ, I just got some more facts about the office property and the bank behind the sale. The bank holding the mortgage is CitiCorp, and they are willing to do 70% financing at 3.25% interest rate to off-load the office on any buyer willing to sign signature on the dotted line. Given the 7% rental yield, the rent can fully cover interest and loan payment with some spare change.

And yet, even after having the asset value drop 70% from peak ('97) and rent drop 46% from peak, I still want to see more carnage and much retribution, before offering redemption;0)

Chugs, Last Man Standing Wannabe, Jay
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