Feb 8 The U.S. Mortgage Bankers Association
(MBA) has agreed to sell its headquarters building in Washington
to CoStar Group Inc (CSGP.O) for a loss, the Wall Street Journal
CoStar Group, a commercial real estate data provider, said
it had agreed to buy MBA's 10-story headquarters building for
$41.3 million, well below $79 million the trade group agreed to
pay for it at the peak of the real estate bubble in 2007, the
The sale price is well short of the $75 million of financing
that the industry group got from a group of banks led by PNC
Financial Services Group Inc (PNC.N) for the purchase, the
The Mortgage Bankers Association is the national association
representing the real estate finance industry, an industry that
employs more than 280,000 people.
MBA could not be immediately reached for a comment by
Reuters outside of regular U.S. business hours.
(Reporting by Archana Shankar in Bangalore; Editing by Rupert