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.
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