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Commercial properties fall to foreclosure

Crisis can sow blight, cut into local tax bases

In Millis, plans to build a 341-unit condominium development for 55-and-older residents at the Glen Ellen Country Club are in doubt because the property is headed to foreclosure auction. In Millis, plans to build a 341-unit condominium development for 55-and-older residents at the Glen Ellen Country Club are in doubt because the property is headed to foreclosure auction. (Bill Polo/ Globe Staff/ File 2006)
By Casey Ross
Globe Staff / April 23, 2009

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The foreclosure crisis is now claiming commercial properties across Massachusetts, prompting a surge of fire sales as the owners of office towers, hotels, and stores cannot meet or refinance sizable loan payments. (Full article: 857 words)

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