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Coming to Grips With Those Toxic Assets

Published Wednesday, July 01, 2009

Are banks and other financial institutions playing a game of hide the pea with their troubled commercial real estate properties? Douglas Wilson, a self-described serial developer turned workout specialist and receiver, believes that is indeed the case. “They don't want to get these assets out. They don't want to foreclose and take a hit on their balance sheet, but at some point there has got to be a resolution,” said Wilson during a panel discussion on foreclosures at the National Association of Real Estate Editors conference in Washington, D.C. in June. Such gamesmanship by financial institutions, if true, ...

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