Boston's Hancock Tower and the coming commercial real estate crisis.

Slate by Daniel Gross | Sep. 6, 2009 (Special Report)
Boston's Hancock Tower and the coming commercial real estate crisis.

For most of its 34-year life, the Hancock Tower, which looms above its brick neighbors in Boston's Back Bay, has been the sort of place where money comes to be managed and protected. Its tenants include Ernst & Young and the investment firm Highfields Capital. The I.M. Pei-designed sliver of glass doesn't seem like a place where several hundred million dollars can vanish in a few months.[more ...] Full Story »

Posted by Kaizar Campwala - via Slate

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Randy Morrow
4.0
 by Randy Morrow - Sep. 8, 2009

Just as residential mortgages were gathered together, chopped up, and sold to investors, so, too, were commercial mortgages. In the coming months, the recovering banking industry will probably report billions of dollars in losses tied to commercial real estate loans.

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