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Commercial Real Estate Direct Staff Report An affiliate of Gramercy Capital Corp. that holds mezzanine debt against a portfolio of 107 extended-stay hotels with some 7,100 rooms, has filed for bankruptcy, thwarting an effort by another mezzanine lender to foreclose ...
The Club at Spanish Peaks, a 5,700-acre ski and golf resort in Big Sky, Montana, has shut down and last Friday filed to liquidate through a Chapter 7 bankruptcy filing. It is the latest resort in the area, all financed ...
Facing a November maturity, a $96.5 million securitized mortgage on a portfolio of 38 government-occupied buildings has been shifted to special servicing. The portfolio, owned by Genesis Financial Group, contains 1.1 million square feet that is occupied by a number ...
Honolulu Star-Advertiser Lehman Brothers Holdings Inc. has taken the 404-room Ritz-Carlton Kapalua at foreclosure auction. Lehman, which filed for bankruptcy in 2008 and is in the process of being liquidated, bid $75 million for the luxury hotel. The hotel's previous ...
Commercial Real Estate Direct Staff Report A foreclosure auction for 500 W. Monroe St., a 973,000-square-foot office building in Chicago owned by Broadway Partners will take place tomorrow at the law offices of Allen & Overy in New York. Piedmont ...
The entity that owns 32 apartment properties that collateralize a $475 million CMBS loan last week filed for bankruptcy. The loan was securitized through Credit Suisse Mortgage Securities Corp., 2007-C2. The properties' owner says they're worth only $275 million and ...
Jonathan Eilian's Atrium Hotels is aiming to take over a portfolio of 18 hotels owned by Windsor Capital Group through a foreclosure auction set for next week, according to a report in the Wall Street Journal. The newspaper reported that ...
Commercial Real Estate Direct Staff Report LNR Partners has filed a lawsuit to foreclose on $325 million of debt backed by 575 Lexington Ave., a Manhattan office building owned by a venture of the California State Teachers' Retirement System and ...
NewYork TimesNew Jersey will provide tax breaks and low-interestfinancing to investors that take over the stalled Xanadu retail andentertainment project in East Rutherford, N.J.The state is working with a group led by Credit Suisse,which foreclosedon debt against the property, in ...
TheReal DealPB Capital has sued to foreclose on an $84 million loan backedby Sorrento New York, a hotel with residential condominium units underdevelopment in midtown Manhattan.Esplanade Capital, a Manhattanfirm led by Jay Eisenstadt and David Scharf, allegedly defaulted after failingin ...
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