When Blackstone Group and Canada's Brookfield Properties bought 84 million square feet of some of the best office space in the world in 2006, it looked like a pretty good deal. But now analysts say the transaction was overleveraged. And the owners face $1.6 billion of debt on the deal maturing in 2011. According to one analysis, U.S. commercial property prices will fall 40% to 50% from their 2007 high before they start rising again.
Published in Brief: