Billionaire investor Ron Burkle and the business partner he once threatened to “go thermonuclear” on, hotelier Andrew Zobler, have ended their feud in order to save a flagship property from foreclosure. Burkle’s Yucaipa Cos. agreed late last week to buy back $40 million in mezzanine debt from Colony Capital, holding off a UCC foreclosure auction of the NoMad Hotel at 1170 Broadway that was scheduled for Thursday, the Wall Street Journal reported. The hotel’s owners […]
source https://therealdeal.com/2019/06/04/nomad-hotel-owners-settle-feud-to-save-property-from-bankruptcy-auction/
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