Critics long complained that in the event of a market downturn or other unexpected event, CitiApartments was in danger of defaulting on its mortgages and would have to sell them at distressed prices or in foreclosure, which would have a ripple effect that depresses commercial real estate throughout San Francisco. Such predictions came to pass in January, 2009, when the parent company had to assign 51 of its (then) 307 properties to one lender, UBS AG, in lieu of foreclosure, because they collectively had a negative cash flow of approximately $3 million per month.