Time for some proper due diligence/ independent auditing in our communities

[ari3]

https://therealdeal.com/texas/fort-worth/2024/05/09/pinnacle-bank-buys-back-fort-worth-office-tower-for-12-per-sf/
https://therealdeal.com/texas/dallas/2024/04/25/opals-arlington-office-park-faces-foreclosure/
https://www.yahoo.com/news/wings-financial-foreclosing-portion-normandale-191700981.html
this does not bode well for cre sector

All three of these were controlled by one entity and are all office which is the worst preforming sector so it may not be fully reflective of the overall CRE market.

[AsherO]

All three of these were controlled by one entity and are all office which is the worst preforming sector so it may not be fully reflective of the overall CRE market.

Reminds me of this recent story I came across:
https://x.com/unusual_whales/status/1778479545613439455
(archive link for the original WSJ story here)

[jye]

We need a DDF clearance thread….

[joeberg]

https://therealdeal.com/texas/fort-worth/2024/05/09/pinnacle-bank-buys-back-fort-worth-office-tower-for-12-per-sf/
https://therealdeal.com/texas/dallas/2024/04/25/opals-arlington-office-park-faces-foreclosure/
https://www.yahoo.com/news/wings-financial-foreclosing-portion-normandale-191700981.html
this does not bode well for cre sector

He had Frum investors?

[sylk]

He had Frum investors?

yes

[jye]

He had Frum investors?

https://www.opalhs.com/leadership/

[whacked1]

All links deleted!

Huh, they all work for me

[joeberg]

Huh, they all work for me

Wasn't working earlier.

[aygart]

The way Opal buys and manages properties is not at all indicative of the market.