A mortgage lender sponsored by investment giant TPG stopped funding a loan to a New York-based developer due to liquidity strains caused by the coronavirus pandemic, according to a new lawsuit that could be a sign of where commercial real estate finance is headed. Somera Road, a New York-based developer, alleges TPG RE Finance failed to advance $4 million in funds on a $60.2 million loan to buy and redevelop a distressed office building in
source https://therealdeal.com/2020/04/30/lawsuit-against-tpg-trust-could-be-an-omen-in-cre-finance/
No comments:
Post a Comment