Last Updated: September 2, 2010 ET

Carmel Developer Settles with Lender

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INDIANAPOLIS-Carmel developer Lauth Group has settled with lender Inland American Real Estate Trust, who has permitted the developer to keep control of 37 of its 43 assets under bankruptcy measuring five million square feet. The lender secures the remaining six assets for its $250 million investment in Lauth in 2007.

The lender will also get $1 million from the developer. The court approval on the settlement expected this month would allow the Lauth affiliate to emerge from bankruptcy. For the full story, go to Indy Star.

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