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BOSTON-Broadway Real Estate Partners has defaulted on $700 million of debt, which is linked to the John Hancock Tower, which it purchased two years ago. As the Wall Street Journal reports, there is now a division among investors as to when to foreclose on the property.

The structure of the deal provides that the investors with the least amount of risk will get paid-out first, while the investors with the most amount of risk will get paid-out last. The concern, according to the Journal is that the last investors on the list, will not receive payment if the tower suffers a foreclosure right now.

To read the entire Wall Street Journal article, click here.

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