It is our suspicion that developer Trammell-Crow is in very difficult position financially, after reviewing documents that showed Oakland Housing Authority’s concern of their ability to go through with their planned development.
Yesterday Reuters reported that Trammell-Crow’s parent company, Richard Ellis, reported a substantial 6.6 million dollar loss for the 2nd quarter.
NEW YORK, July 29 (Reuters) – CB Richard Ellis Group Inc (CBG.N), the world’s largest commercial real estate service company by revenue, posted a second-quarter net loss on Wednesday compared with a year-ago profit, as leasing and sales declined sharply.
The company said it had a net loss of $6.6 million, or a loss of 2 cents per share, compared with a profit of $16.6 million, or 8 cents per share, a year ago.
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