The special servicer for an $850 million CMBS deal has accused Hudson’s Bay Company of engaging in a “clandestine corporate shell game” as it took the department store operator private, a move that undermined the creditworthiness of the loan, which now faces default. And as with many other real estate-related court cases lately, Covid-19 is a focus. The CMBS loan provided by JPMorgan Chase, Bank of America, and Column Financial is secured by 24 Lord
source https://therealdeal.com/2020/05/20/corporate-shell-game-special-servicer-says-hudsons-bay-undermined-850m-loan/
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