$76M of Austin property is “distressed”

From Austin Business Journal, December 24, 2008...

Austin has approximately $76 million of distressed properties and nearly $1.6 billion of potentially troubled properties, according to a Dec. 17 report from Real Capital Analytics.

Bankruptcy of a general partner, impending maturity for mortgages or failed leasing and sales goals can all lead to a property falling into the financially “distressed” category, the report said.

The report, which studied 39 metropolitan markets, ranked Austin 17th based on the financial amount of distressed properties and 20th by the number of troubled properties.

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