Search
 

L.A. Distressed Totals at Nearly $7B

LOS ANGELES-Some $6 billion of commercial properties were added in Q1. Despite high figure, the region ranks only 24th in US on a percentage basis.

By John McCloud | Updated on April 28, 2009

LOS ANGELES-The total value of distressed commercial properties in the greater Los Angeles region rose to $6.68 billion in Q1, according to the newest edition of the Troubled Assets Radar report from Real Capital Analytics. The figure includes $5.78 billion of properties currently in distress and $903 million of properties whose distress has been resolved.

The regional total represents approximately 7% of the total value of distressed US commercial properties. Nonetheless, the area ranked only 24th among US markets in terms of the percentage of properties under distress. “Overall, L.A. is not one of the main areas in the country for distressed properties on a percentage basis,” observes Dan Fasulo, director of research for Real Capital. “While some of the secondary and tertiary markets have suffered, prime markets in L.A. are still extremely attractive.”

The region’s troubled asset tally includes 267 properties. While the retail sector accounts for the largest number of properties with 78 assets compared to 58 office assets, 51 industrial assets and 40 apartment assets, on a dollar basis, office is number one at $1.84 billion, followed by retail at $1.81 billion, apartment at $511 million and industrial at $397 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.