Following the default on a $200 million loan by an investor group led by Michael Shvo, 44 condominiums at the Mandarin Oriental Residences are now available for bulk sale.
The partnership's decision to pursue a bulk sale aims to reallocate investment resources, leveraging the anticipated lower interest rate environment to acquire new income-producing assets.
The Mandarin Oriental Residences, completed in May, have sold 10 condos for approximately $69.7 million, yet the bulk sale comes after a default notice was filed by Acore Capital.
The Shvo-led consortium opted for a bulk sale after defaulting on a significant loan, aiming to restructure its investment strategy while navigating the current real estate landscape.
Collection
[
|
...
]