Subject: Bankruptcy/Foreclosure (BKRPT)

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 ...

A venture led by Metropolitan Real Estate Investors that owns the Lipstick Building at 885 Third Ave. in Manhattan has filed for bankruptcy protection, according to Bloomberg.The venture, Metropolitan 885 Third Avenue Leashold, filed Chapter 11 in Manhattan yesterday. The ...

Moinian Group, which is grappling with debt-service difficulties at several Manhattan properties, has been hit with a foreclosure suit on a $22 million loan against 72 Madison Ave., with 54,000 square feet, according to the Wall Street Journal. CWCapital Asset ...

TheReal DealRFR Realty has defaulted on a $16.6 million loan on 15,000square feet of retail space occupied by the Chinatown Brasserie restaurant at 380 Lafayette St.in Manhattan.LNR Partners, special servicer for the loan, which issecuritized through Banc of America Commercial ...

SanFranciscoBusiness TimesRoyalBank of Scotland, lender forthe retail portion of GhirardelliSquare in SanFrancisco, is foreclosing on the property. Accordingto Todd Chapman, chief executive of JMA Ventures, owner of the property, hasbeen current on its $55 million loan. But RBS won't allow ...

General Growth Properties Inc.'s plan of reorganization has been confirmed by Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York, paving the way for its emergence from bankruptcy on Nov. 8.The company's reorganization is ...

Commercial Real Estate Direct Staff ReportPetra Offshore Fund and Petra Fund REIT, two investment vehicles led by Andy Stone, have filed for bankruptcy.News of the bankruptcy was first reported by Bloomberg, which said the filings were made in the U.S. ...

Extended Stay Inc. has emerged from Chapter 11 bankruptcy, 17 months after it filed, as a result of its sale for $3.925 billion to a group comprised of Centerbridge Partners, Paulson & Co. and Blackstone Real Estate Partner VI.The company ...

Commercial Real Estate Direct Staff ReportSix of the 12 loans that comprise 15 percent or more of their respective CMBS transactions are in special servicing, according to analysis by Deutsche Bank.Such large loans can have a severe impact on a ...

A bankruptcy court has scheduled an Oct. 21 hearing pertaining to the reorganization plan of General Growth Properties Inc., a Chicago REIT that filed for bankruptcy last year.General Growth announced today that it has submitted a disclosure statement to the ...