News
REO SPEED-DAVENPORT
October 6, 2010
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| Lavista Associates' Tom Davenport has been dealing with messes from the commercial real estate bust. His firm is managing the sales and/or leasing on more than 80 REO assets throughout North Georgia for a collection of institutions including the FDIC, SunTrust, and State Bank & Trust. Tom tells us we're ?approaching halftime? in this commercial real estate correction. ?There are problem assets that have been identified and already run through the system. But there are still a lot more out there, and it will take time before lenders realize they'll need to run them through,? Tom says. He's seeing properties selling anywhere from 35-cents on the dollar on the low side to dollar-for-dollar on the high side to mainly users or small investors with access to capital. Some of Lavista's current listings include an office complex at 1132-1138 Satellite Blvd., a retail center at 3305 Peachtree Industrial Blvd. (pictured above), and a warehouse at 246 Castleberry Industrial Dr. in Cumming. |
