February 4th, 2011 5:56 PM by Eric Fang
A year ago, a somewhat desperate MBA(Mortgage Bankers Association)sold its (somewhat) new 10-story office building in downtown D.C. to CoStar Group for $41 million, or $34 million less than what it paid to build the thing the year prior.
Thursday afternoon, CoStar very quietly on its website bragged that they sold it for 101Million just one year after the acquisition.
Was not MBA supposed to be smart? Or they may be very pessimisticabout commercial RE then?