NEW YORK CITY-New York City-based Lexin Capital has acquired a defaulted mortgage on a development site located at 815 Sixth Ave. The company is yet to complete the foreclosure process against Adellco.
Published reports show that Adellco had aimed to construct a residential building on the site situated at the corner of West 28th Street. Capmark Financial Group was seeking nearly $17 million for the loan, which had a value of $22 million. Jones Lang LaSalle's capital markets team negotiated the transaction.For the full story, go to Crain's New York Business.
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