In a bankruptcy court filing, the retailer’s lenders said they are seeking to reorganize assets into a new company that can invest in new retail operating businesses.
Oxford Properties, the real estate unit of Canadian pension fund OMERS and CPPIB bought a 1.3-million-sq.-ft. freight terminal in Manhattan for conversion into an office building.
A U.S. District Judge said the government’s seizure of all mortgage companies’ profits in January 2013 to recapture taxpayer-funded bailout money might have constituted a breach of faith.
The Windy City is the only undervalued housing market in a survey of 20 financial centers by UBS Group AG, partly due to its widely publicized fiscal problems and rents rising faster than home prices.
The city’s proposed homeless aid tax on businesses with gross receipts above $500 million might drive some large employers to move, a controller’s report found.
With rising rates making it harder for homeowners to refinance, buyers of “scratch and dent” mortgage securities can end up holding them for longer than they wanted.
