• land prices soared as developers paid "whatever it took" to buy commercially zoned property ...
• rental rates escalated at an alarming pace as retailers expanded in a frenzy ...
• construction costs increased dramatically as billion-dollar-strip-properties gobbled up labor and materials, and ...
• lenders fueled the storm by permitting developers to leverage their projects to the hilt.

Now banks are grappling with the task of minimizing their loss, while investors are pursuing distressed properties in search of unique investment opportunities. As the months have passed, banks now realize property values have plummeted to unprecedented levels. Slowly but surely, however, they're moving properties through the foreclosure process.

Delta has focused much of its attention on this emerging business opportunity. We review "Notices of Default" and "Notices of Sale" on a daily basis, and we track the course of properties we believe will offer the best investment returns. In most cases, lenders will eventually acquire these properties at a trustee sale. At that point, the game is on ...

Our objective with this endeavor is to be strategically positioned to take advantage of these foreclosures when they hit the market. In that regard, we continue to pursue business relationships with investment and development companies to work closely with us on these unique opportunities.