Joel Schreiber successfully paid off $35 million on the $75 million loan to Hankey Capital on Union Bank Plaza in Downtown L.A., securing an extension on the debt.
Schreiber, facing court judgments totaling nearly $100 million and admitting to low cash reserves in the past, managed negotiations and deals to maintain ownership of the office tower.
#real-estate-financing #property-ownership #financial-challenges #negotiations #real-estate-investment
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