Green Street

 

 

Bloomberg: Landlord That Mirrored Property Boom and Bust to Shut Down

According to Bloomberg:  BentleyForbes once owned such renowned properties as the Watergate office complex in Washington and Bank of America Plaza, Atlanta’s tallest skyscraper. Now the company is on the verge of vanishing.

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“The office-transaction environment in ’05, ’06 and ’07 was red-hot, with significant financing available through many types of buyers, and all of that spurred a meteoric rise in asset values,” said Michael Knott, director of U.S. REIT research at Green Street Advisors in Newport Beach, California. “When the music finally stopped playing, there were several large and aggressive buyers who felt some pain from an environment that became much less hospitable.”

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To view full article from Bloomberg, click here.