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An iconic high-rise faces the auctioneer

Hancock foreclosure may be one of many

The delinquency rate on loans for office buildings, stores, and other commercial properties has increased rapidly in recent months. The Hancock Tower's foreclosure began in January. The delinquency rate on loans for office buildings, stores, and other commercial properties has increased rapidly in recent months. The Hancock Tower's foreclosure began in January. (John Tlumacki/ Globe Staff/ File 2003)
By Casey Ross
Globe Staff / March 31, 2009

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It is a scenario that seemed unthinkable as little as a year ago: Today, the John Hancock Tower will be auctioned off, the fallout of high-flying borrowing practices that are expected to trigger a wave of defaults at trophy office properties across the country. (Full article: 626 words)

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