PITTSBURGH-Downtown-based McKnight Realty Partners is expecting to settle the paperwork on a deal to take control over the possession of the Henry W. Oliver Building, a 471,000-square-foot office tower situated on Smithfield Street in Pittsburgh. The building was not able to make payments for its commercial-backed securities that amount to $29.8 million.
McKnight is acquiring the note for the building by paying roughly $12 million for the property's debt. The firm's purchase is a deed in lieu of foreclosure. For the full story, go to Pittsburgh Business Times .
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