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Saturday, October 4, 2014

No Sale For A While

According to this article, http://www.marketwatch.com/story/fitch-downgrades-2-distressed-classes-of-ml-cfc-2007-6-affirms-remaining-classes-2014-10-03, STPCV continues to lose money for the lenders and no sale will occur until the mezzanine debt holder suit is settled.

So there's no rush for the mayor's office to act and who knows what other suits may follow.  Kind of explains why the complex is only 'sort of' getting readied for sale.

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