UPDATED, Nov. 6, 4:47 p.m.: Last February, Slate Property Group and GreenOak Real Estate landed a $285 million loan from the Blackstone Group to finance the acquisition and renovation of RiverTower, the enormous Midtown East rental building. It was a bold deal: although the young Manhattan-based Slate has done around $3 billion in deals in recent years, it had never taken on a single transaction close to this size. In years past, a bank would […]
source https://therealdeal.com/2017/11/06/banks-are-far-more-exposed-to-risky-real-estate-loans-than-you-think-thanks-to-this-loophole/#new_tab
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