Fitch Ratings said the $75 million loan backing 80 Broad Street in Manhattan has been transferred to a special servicer because of an "imminent default."
Fitch Ratings said the $75 million loan backing 80 Broad Street in Manhattan has been transferred to a special servicer because of an "imminent default."
General Growth's largest unsecured creditor prefers to change his holdings to new stock at $8 a share instead of accepting offers to acquire the bankrupt company.
Also in this Private Properties column: GoDaddy.com founder buys a Hawaiian home built by Cher, and a philanthropist cuts her $100 million listing by 52%.
The takeover battle for the U.S. mall owner heated up as the company unveiled a deal for investor Brookfield to help finance its emergence from bankruptcy.
Hedge-fund investor David Tepper has stepped into the battle over the fate of Peter Cooper Village and Stuyvesant Town, the giant New York City complex involved one of the largest commercial real-estate failures.
The financial secretary warned in the annual budget address of an 'increased risk of a bubble forming in the property market,' on recent signs of rising prices in the residential and land markets.
