August 17th, 2009 by Reed Allmand 
According to an article in the Dallas Morning News, the high-profile 1001 Ross Avenue apartment block with retail space on the ground floor was posted for foreclosure.
The article said:
“The downtown Dallas apartment project is one of 184 commercial and investment properties threatened with forced sale at next month’s foreclosure auctions in Dallas, Tarrant, Collin and Denton counties.”
Nearly 50 foreclosures posted for next month were apartment complexes, some of them burdened with loans worth more than $496 million. Analysts examining the current foreclosure crisis have noted that the profiles of recent foreclosure have gradually changed. Many foreclosures are now affecting higher quality/valued properties as the credit availability for even the most luxurious properties has slowed to a trickle. Since many commercial real estate properties such as apartment complexes are owned by a single large corporation, rising foreclosures in the commercial real estate sector could cause an outbreak of commercial real estate bankruptcies as companies struggle to survive multiple foreclosures hitting their property portfolios.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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