SAN FRANCISCO-Crescent Real Estate Holdings LLC, a Fort Worth, Texas-based developer, is trying to restructure and extend a $55 million loan to keep hold of its marquee resort situated in California wine country. According to Realpoint LLC, the securitized loan supporting the Fairmont Sonoma Mission Inn & Spa was to come due on February 1.
However, Crescent and Midland Loan Services are conferring a three-month deal to extend the loan. The restructuring of loan could be accomplished by May. For the full story, go to Wall Street Journal.
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