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Another CRE-Related Bankruptcy

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Did General Growth open the floodgates? It's been by far the biggest commercial real estate bankruptcy, but the list of other firms being forced to reorganize is growing. Three subsidiaries of Lauth Property Group are seeking Chapter 11 bankruptcy protection. About two weeks ago it was Sheldon Good & Co. and Opus South. Are these debt-related bankruptcies (i.e., the result of the inability to roll over finance) or are these stemming from operational difficulties? It's unclear what the case with Lauth is. With Sheldon Good, there seem to be some shady things that occurred behind the scenes.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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