!So, it looks like yet another organization has had to downsize. It's moving out of its headquarters, in the heart of Washington, DC, which they moved into about a year ago, because it's too expensive for them now.Who is this organization? Why it's the Mortgage Bankers Association, of course, who have discovered that their new $76 million dollar digs are no longer affordable:
Since the purchase in May 2008, the U.S. economy has suffered one of the most severe recessions in a century, and the residential and commercial real estate markets have materially deteriorated. These factors, coupled with a challenging leasing environment, led the MBA Board to conclude that continued ownership of 1331 L Street was economically imprudent, and over the long term would impair MBA's ability to continue providing our members with MBA's full range of services.My guess? That they got f$#@ed over by the fine print in their mortgage.
0 comments :
Post a Comment