"The lenders in 2008 loaned the development $10 million as part of a mezzanine loan, a type of secondary financing, according to the terms of public sale provided by TriLyn. The loan is in default with an outstanding balance of $18.3 million."
Yikes!! If your $10 million loan ends up with a balance of $18.3 million, your building might be in trouble.
"The lenders in 2008 loaned the development $10 million as part of a mezzanine loan, a type of secondary financing, according to the terms of public sale provided by TriLyn. The loan is in default with an outstanding balance of $18.3 million."
ReplyDeleteYikes!! If your $10 million loan ends up with a balance of $18.3 million, your building might be in trouble.