NEW YORK CITY-Dune Real Estate Funds has recently acquired a loan on a troubled portfolio of apartment buildings in Upper Manhattan for $105.1 million at a 45% discount. The loan on the buildings, owned by the Praedium Group and Joel Wiener's Pinnacle Group, has been belated for over a year.
According to Trepp, the loan, backed by 36 residential buildings totaling 1,083 units, was sold for $87 million less than its original value. For the full story, go to Crain's New York Business .
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