It sounds like the debt was issued and secured by a subsidiary that only has an interest in and recourse to the operating portfolio. The new construction buildings likely have separate construction financing under a separate subsidiary. Hopefully this is the case and they have not cross-collateralized, so the development arm can continue construction relatively unaffected.A few of the buildings are mixed use. Cash flow is cash flow. How they can separate not paying their creditors (banks) on the commercial properties, but continuing to spend on construction of new residential buildings, is beyond my comprehension.