Subject: Liquidation (LIQ)

In the midst of a proxy battle and legal wrangling relating to the sale of common stock to other institutions, First Union is pushing for the sale of the New Orleans REIT's assets.

The $2.3 billion of securitized commercial mortgages liquidated last year were resolved at a loss that averaged 40.4 percent. Just under $5 billion of CMBS loans are delinquent.

A total of $4.9 billion of securitized loans were delinquent at the end of November, according to Realpoint. That month saw $113.1 million of loan liquidations, bringing the total for the year to more than $2 billion.

November 8, 2004Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans inched up in September to $4.91 billion from $4.87 billion the month before, according to data from Realpoint. Given the addition of fresh CMBS deals to Realpoint's ...

March 16, 2004 Commercial Real Estate Direct Staff ReportPimco Commercial Mortgage Securities Trust Inc., a closed-end mutual fund that owns CMBS, is asking its shareholders to vote on a plan of liquidation.It's not that the fund is underperforming benchmarks. On ...

September 25, 2003 Stores occupied by Drug Emporium are being liquidated.DJM Asset Management LLC, a Melville, N.Y., company that helps retailers sell unwanted leases and stores, has been hired to dispose of the 77 Drug Emporium locations.The retailer's parent, Snyder's ...

March 7, 2003 Crescent Operating Inc. (OTC BB:COPI.OB), an affiliate of Crescent Real Estate Equities Co. (NYSE:CEI), plans to file for Chapter 11 bankruptcy protection in the next few days and then liquidate.Stockholders of the Fort Worth, Texas, diversified management ...

August 14, 2002 Commercial Real Estate Direct Staff ReportA total of 41 CMBS transactions could be affected by Ames Department Stores' decision today to close all of its 327 retail outlets.The retailer, which filed for Chapter 11 bankruptcy last year, ...

January 31, 2001CHICAGO – Leonard G. Levine, suspended president of Banyan Strategic Realty Trust (Nasdaq:BSRTS), has filed two court actions against the REIT to keep it from liquidating to Denholtz Management Corp.He is suing the REIT's executives on behalf of ...

January 19, 2001 DALLAS – Amresco Capital Trust (Nasdaq:AMCT) has completed the sale of its remaining three CMBS holdings for $16.5 million.The company's portfolio now consists of five mortgage loans and one equity investment in real estate. As previously reported, ...