NEW YORK CITY-CIM Group, a Los Angeles-based investment firm, is close to a deal to acquire the debt on a stalled 46-story condo-hotel, the Trump SoHo project. The firm is in talks with the iStar Financial, the lender of the project, to buy the debt for nearly $275 million.
The two sides are expecting to arrive at a deal in the next few days regarding the high-profile project. Trump SoHo is located at Varick and Spring Streets. For the full story, go to Wall Street Journal.
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