A senior lender who moved to foreclose on 125 Greenwich, the under-construction residential tower in the Financial District, has sold the debt to a real estate development firm. United Overseas Bank, which provided a $195 million loan to the luxury project’s sponsors, sold the senior debt to real estate development firm BH3 Capital Partners at cost, a person close to the deal told The Real Deal. The move spells further uncertainty for the Rafael Vinoly-designed […]
source https://therealdeal.com/2019/07/29/florida-developer-takes-over-defaulted-debt-on-125-greenwich/
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