One of the biggest landlords in Los Angeles is handing over the keys to lenders for nearly half of its Los Angeles County portfolio.
WS Communities is signing off on deeds-in-lieu of foreclosure on 28 multifamily buildings and development sites, encompassing about $1.1B in debt.
Madison Realty Capital assumed control of 20 properties, with Hankey Capital taking six buildings and Lightstone Capital taking over three properties. Madison and Lightstone are based in NYC, according to a report in TheRealDeal.
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