#commercial-vacancy

#commercial-vacancy

With residential vacancy moving in right direction, focus must now turn to the commercial side Dereliction is vandalism. It's a term that has taken off in recent years. In opinion columns like this. In Oireachtas debates. In the minds of many who pass buildings left idle on their streets. It's a phrase that's hard to disagree with. Derelict buildings scar the appearance of our urban centres. It's fatal to their vibrancy.

Three downtown Oakland properties, including the historic Tribune Tower that for a century has become one of the East Bay city's best-known landmarks, are mired in a $111 million loan default. Highbridge Equity Partners, a real estate investor that's active in downtown Oakland, added the three properties to its portfolio in recent years but now faces a foreclosure if it can't repay the loan from an affiliate of Rialto Capital, a finance firm.