NEW YORK CITY-CIM Group has done more than just halting the debt problem at the Beaver House condominium situated in 15 William St. The company moved into an ownership interest in the building by rolling up more debt.
CIM bought the iStar's debt that amounts to $60.066 million on 209 units of the 334 units in the building. However, GSO Re Onshore, a Blackstone fund, filed a suit against sponsor Tamir Sapir regarding a construction loan. For the full story, go to New York Post.
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