Centre Properties placed three of its 26 retail properties in Chapter 11 protection. Bank of America, the mortgage holder on all three properties, filed foreclosure proceedings in January. In order to reach an agreement for Indianapolis-based Centre to pay off the debt on the properties, the developer has had ongoing negotiations with the bank, however, was unable to reach agreement because of the bank’s urgency to force repayment of the loans...
via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Watch-List-Chart-Retail-Property-Owners-Using-Ch11-To-Protect-Their-Centers/147022?ref=/News/Article/Watch-List-Chart-Retail-Property-Owners-Using-Ch11-To-Protect-Their-Centers/147022&src=rss
via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Watch-List-Chart-Retail-Property-Owners-Using-Ch11-To-Protect-Their-Centers/147022?ref=/News/Article/Watch-List-Chart-Retail-Property-Owners-Using-Ch11-To-Protect-Their-Centers/147022&src=rss
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