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Real Estate Briefing - Categorized | Finance, Market Moves more

$1 billion in distressed property on the block

Posted on 23 November 2011

Banks are tightening the screws on development sites that have breached borrowing covenants, pushing more into receivership with “at least” $1 billion worth of distressed property currently for sale.
And that flow of receivership property is expected to continue for at least the next two to three years, according to CBRE, one of the Australia’s major recovery real estate agencies………………………………………..Full Article: Source


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