Capmark, which reported a second-quarter loss of $1.6 billion yesterday, indicated it could file for Chapter 11 bankruptcy protection. The $490-million payout would represent a sale before such a filing, but if the firm does go into bankruptcy, it would seek court authorization for the transaction to go through at a $415-million price tag.
Locally based Capmark paid Berkadia $40 million to enter the agreement. Berkshire has lately increased its investments in the real estate market on the hopes of a recovery in the market, according to published reports.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.