Feb
24

The Great Property Writedown: Part II – Grinding Out Sausage

By
Commercial Property Fundamentals, Values, Long-Held Strategies Getting Ground up in the Recession

– CoStar

Ed Linde, CEO of Boston Properties Inc., wasn’t trying to make a metaphor for what is going on with commercial property values in these days of disequilibrium as the economy continues to crumple. However, it sure came out sounding like one.

When asked at his company’s fourth quarter earnings conference call this month to provide a little bit of color on where he thought rents in the landmark GM building in New York would have to drop for Boston Properties to record an impairment, Linde described the ‘oh-so’ precise method that his firm – and others in the industry – are having to adopt.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.costar.com/News/Article.aspx?id=4A103F6DA59F55CEF7FD2DA4ABF44EFD&ref=100&iid=119&cid=5D9F1AA40374FA4B74FCDDE49D4C0290

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