NEW YORK CITY-The meltdown in the realty market in New York wasexpected to take down developer Joe Moinian along with it; butsurprisingly it has not. Moinian has taken advantage of thereluctance of lenders to foreclose on properties. His portfoliostill exceeds 20 million square feet in New York, Chicago, LosAngeles and Dallas.
He managed to restructure about $400 million of debt earlierthis year and arranged a new financing of $150 million for theOcean. For the full story, go to Wall Street Journal.
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
*May exclude premium content
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.
