JACKSONVILLE, FL—Condo owners are still turning arounddistressed assets—and some of them are relying onCMBS loans to do it. 22 LanternLLC offers a prime example.
22 Lantern successfully completed a multi-year turnaroundstrategy on Lantern Square Apartments, a failed condo conversionproject in Jacksonville, FL. Prudential MortgageCapital Company loaned Lantern $18.1million in a CMBS transaction.
Greenberg Traurig represented Lantern. TheGreenberg team included Miami real estate attorneys SteveBassin and Michael A. Roussis, withassistance from Noam Lipshitz, a tax attorney atthe firm's Fort Lauderdale, FL office and JenniferHage, a paralegal in the Miami office.
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