Friday, December 23, 2011

Morning Real Estate Review


U.S. homes expected to lose $681 billion in value in 2011 (Wall Street Journal) Though the number is large, 2010 was far worse, and most of 2011's losses occurred in the first half of the year, showing stabilization. The DC area largely escaped those losses.

ABA Building sells for $69m (Costar) Purchased by the John Buck Co. of Chicago for $404 per square foot. The ABA will eventually relocate.

Equity Residential to try and work out purchase of Archstone (Globe St.) Judge asks Lehman Bros., now in bankruptcy proceedings and 47% owner, to talk out sale with Equity.

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