Developer Michael Shvo plans bulk sale of Mandarin Oriental condos after default
Michael Shvo's luxury condo project in Beverly Hills has defaulted on a $200 million mortgage, prompting plans for a bulk sale of remaining units.
A wave of defaults has real estate lawyers urging presale buyers to be cautious | CBC News
Canadians are defaulting on deals to buy presale or preconstruction condos or homes due to financial pressures.
The trend of defaults is driven by high interest rates and declining condo values.
Edge Principal Defaults on Culver City Office Loan
Real estate firm Edge Principal Advisors has defaulted on a $39 million loan tied to an office complex in Culver City.
The property, located at 6101 Centinela Avenue, was acquired by Edge Principal Advisors for $44 million in 2017.
The default comes as an increasing number of real estate firms are facing financial distress due to a record amount of commercial real estate debt maturing in the next four years.
Mack Schedules Auction on Two TA Partners Irvine Projects
TA Partners is at risk of losing two large multifamily projects in Irvine due to defaulting on $200 million in loans from Mack Real Estate.
The loans were set to mature in 2027, but TA owed $11 million as of Oct. 1, prompting Mack to file notices of default.
Developer Michael Shvo plans bulk sale of Mandarin Oriental condos after default
Michael Shvo's luxury condo project in Beverly Hills has defaulted on a $200 million mortgage, prompting plans for a bulk sale of remaining units.
A wave of defaults has real estate lawyers urging presale buyers to be cautious | CBC News
Canadians are defaulting on deals to buy presale or preconstruction condos or homes due to financial pressures.
The trend of defaults is driven by high interest rates and declining condo values.
Edge Principal Defaults on Culver City Office Loan
Real estate firm Edge Principal Advisors has defaulted on a $39 million loan tied to an office complex in Culver City.
The property, located at 6101 Centinela Avenue, was acquired by Edge Principal Advisors for $44 million in 2017.
The default comes as an increasing number of real estate firms are facing financial distress due to a record amount of commercial real estate debt maturing in the next four years.
Mack Schedules Auction on Two TA Partners Irvine Projects
TA Partners is at risk of losing two large multifamily projects in Irvine due to defaulting on $200 million in loans from Mack Real Estate.
The loans were set to mature in 2027, but TA owed $11 million as of Oct. 1, prompting Mack to file notices of default.
Starwood, Artisan Default on El Segundo Office Loan
Real estate firms Starwood Capital and Artisan Ventures have defaulted on an $84.8 million loan from MetLife Investment Management for an office building in El Segundo.
Starwood and Artisan had planned to redevelop a neighboring parking lot into office space and a parking structure, but the plans were in the beginning stages.
Two million Ukrainian civil servants face salary cut-off if Western aid dries up
Ukraine is in need of financial support from its Western allies to avoid a default on expenditures, including unpaid salaries for public employees and social benefits.
Ukraine has requested aid packages totaling $110 billion from the United States and the European Union, which remain pending approval due to political friction.
Giuliani Shuts Up For First Time In Five Years, Will Not Testify At Defamation Trial
Rudy Giuliani will not be testifying in the defamation trial in DC.
Giuliani has already defaulted in the trial and is liable for defamation and other charges.