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Aristotle
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Joined: 05 Dec 2007
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Location: On a sand dune, sipping a cold soda

Now Tanking: Hedge Fund Investors in Real Estate Owners
PostPosted: Wed Feb 18, 2009 6:25 pm Reply with quoteBack to top

A very interesting article on the current rash of defaults on "mezzanine debt", i.e. loans to the entities which own real estate:

http://online.wsj.com/article/.....lenews_wsj

Implode-O-Meter readers are seeing the saga of one mezzanine lender, Gramercy Warehouse Funding III, trying to save the value of its lien position on some Lehman/SunCal properties, by Gramercy fighting with the real estate lender on the same projects, Lehman Commercial Paper, Inc.

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Aristotle

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fine post
PostPosted: Thu Jul 09, 2009 11:25 pm Reply with quoteBack to top

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