Industry News
Seattle hits top 10 list for troubled real estate assets
(Business Journal) - The greater Seattle area is among the top 10 metro markets nationwide for troubled real estate assets, according to a new report.
Real Capital Analytics, a New York research firm, ranked Seattle No. 9 by the volume of its distressed and troubled commercial properties.
At least 85 commercial properties — representing $3.1 billion in investment — are classified as either “distressed” or “potentially troubled” in the Seattle area, according to Real Capital Analytics. However, only six properties are considered distressed, the more dire of the two categories.
Seattle trailed New York, Los Angeles, Las Vegas, South Florida, the District of Columbia, San Francisco, Chicago and Boston, according to the report.
The New York area was No. 1, with $12 billion in distressed and troubled real estate assets.
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