Peter Pays Paul

Inside commercial hard money lending.

14 Dec

San Francisco Lembi Update

Category: Commercial Real Estate, Investing, Real Estate Investing

San Francisco Magazine has an updated article on the fall of the Lembi real estate empire in San Francisco. The collapse may take down a local bank that lent the Lembi controlled CitiApartments in excess of $40 million.

The Lembi real-estate implosion (see “War of Values,” December 2009) is on the verge of claiming another casualty: little Tamalpais Bank of San Rafael,

…

Tamalpais Bank made most of the Lembi loans between December 2007 and April 2008. In spring 2008, the bank’s parent company announced record earnings and assets, propelled in part by expansion of its commercial real-estate portfolio.

(HT: Square Feet)

No tags for this post.


Share on Twitter

Related Posts

Posted Monday, December 14th, 2009 at 11:53 am
Filed Under Category: Commercial Real Estate, Investing, Real Estate Investing
You can leave a response, or trackback from your own site.

This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.

0

Leave a Reply