The 23 Lembi properties at risk of being lost in March have officially been deeded back to their lender (a CIM Group fund) along with one more.
Lembis At Risk Of Losing Another 23 Apartment Buildings [SocketSite]
CIM Group snaps up 24 Lembi buildings [San Francisco Business Times]

11 thoughts on “From At Risk To Lost For Another 24 Lembi Properties”
  1. Call it what you like….
    A round trip.
    Shirtsleeves to shirtsleeves in 3 generations.
    I can picture the family patriarch trudging the streets of SF pushing a handcart. Saving his pennies and always buying real estate. The beginning of the Great American Dream.
    I sure hope the current generation still has that handcart. They’ll need it.
    Financially, the Lembi family is toast.

  2. I’m sure the lembis really care that the peanut gallery here is calling their demise. Talk about cheap thrills.

  3. Tell that to the Rothschilds.
    Or the Kennedys. Or the Hiltons. Or the Legg’s. Or anybody with quote unquote “real” money. This site continues to jump the hatershark daily and it’s gotten stale. You got [insert thing here], they’ll hate it.

  4. True, but none of those families went on a Lembi-style drunken buying binge…taking on some much new debt and signed personal guarantees to boot. The people with “real” money have it liquid, or in properties with low leverage. Not the case with thse jokers.

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