Tuesday, October 18, 2011

Property Values Change, Indeed

Noted at the BizJournal:

Phillips Edison & Co. of Cinncinnatti on Friday closed the $15.4 million purchase of the Sendik’s  -anchored Brookfield Towne Centre on West Capitol Drive.

Fifteen million.

A subsidiary of Harris NA acquired the Brookfield Towne Centre retail development in January after suing its former owner in 2009 to recover $26.5 million from a 2005 loan issued for the project.

Unless the bank got $11 million in rent in the last 2 years......

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