Marcus & Millichap

An issued vertical permit at 606 W Flagler St means financing has closed, even though the ownership entity behind it has no public name attached.

The headline is the sale. The story for developers is the per-door math on a 36-year-old complex bought whole and put back to work as rentals.

A Houston office park changes hands out of bankruptcy, a reminder that distress is still clearing the market's weakest assets.