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Bank Failures Make U.S. an Area Real Estate Titan
[FINAL Edition]
The Washington Post (pre-1997 Fulltext) - Washington, D.C.
Author: Downey, Kirstin||||||Salmon, Jacqueline L
Date: Oct 23, 1991
Start Page: a.01
Section: A SECTION

Decisions about properties in the Washington area that were once made locally are now being made by government officials and contractors scattered around the nation. The Embassy Building, a seven-story office building in the Dupont Circle area now owned by the RTC, is being handled by the RTC's Dallas office, which took over when a Texas-based lender shut its doors.

The RTC computer listings also offer far-flung business contacts. One typical listing for condominiums in Bladensburg advises would-be buyers to call the broker in Miami, an RTC office in Philadelphia or the property manager in Long Island.

The acronym "RTC" didn't ring a bell for Jeri Williams of International Video Broadcasts, either. But it is going to affect her soon: The video-translation business where she works is being evicted by the RTC because it hopes to empty the building to sell it to the Fairfax County government.

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