BIG DEBT ACTION

Riemer Braunstein?s Don Rothman got the good word last Friday that the firm's plan for one of its clients to restructure $1.51B in debt owed it by General Growth Properties was accepted by US Bankruptcy Court in NYC. Of all his workouts, he says this was among the most rewarding because GGP has a good business operation but its Achilles heel was billions in debt coming due ?when no one?s out there to finance it.? The client, U.S. Bank, with a large syndicate of lenders, ?was the single largest secured facility.?

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Hynes Vows To Bring Property Tax Stability As New Cook County Assessor

Donalds Makes History With Win For Florida Governor, Voters OK Property Tax Amendment

BioMed Sells Cambridge Office At A Loss: The Boston Deal Sheet

Former Randolph Event Venue Planned For 200-Room Hotel, Theater

The Geo Group To Reopen 2,329-Bed Immigration Facility In Texas

What's At Stake For CRE In Tuesday's U.S. Midterm

From Pandemic Darling To Cautionary Tale: Pickleball Clubs Face A Reckoning After Betting Big On Retail Space

'Distress Is Finally Trading': Investors Chasing Big Discounts On Boston Office

140-Acre Attleboro Golf Course Hits Market, Pitched For Redevelopment

Foundry Robotics Leaves San Francisco For New East Bay HQ

Alexandria Sells Stakes In Megacampuses To Weather Life Sciences Downturn