National Commercial Real Estate News From CoStar Group
Watch List: Deep Underwater Vintage 2007 CMBS Office Loans
Much has been made of how far commercial real estate values fell from the onset of the Great Recession in 2007. The fall inflicted significant damage on properties purchased and financed at the peak of the market.
Currently, more than 200 of the individual office properties purchased or refinanced in 2007 and on which the loans were subsequently pooled into commercial mortgage backed securities have loan balances larger than their most recent value...
Facility Closures & Downsizings: Lockheed Martin Shrinking its Real Estate Footprint
Lockheed Martin CEO and president Marillyn A. Hewson says the huge defense contractor still has a lot of shrinking to do.
Talking to analyst on its fourth quarter earnings conference call, Hewson told analysts a lot of the corporation’s downsizing will come from reducing its leased real estate footprint.
“We have had some reductions in force. We’ve taken out some management layers. We’ve been collapsing some organizations in order to get some...