Posted Feb 03, 2012
Written By: - Eleanor Duncan
Goldman Sach’s Whitehall Street Real Estate Funds and its partner, property manager Golub & Co, seem likely to lose control of The John Hancock Center in Chicago, despite attempts to extend the five-year loan, local players said. The partnership is due to repay $400 million in debt on the building Feb. 9. That consists of a $182 million senior loan converted into CMBS and securitized in LBFRC 2007-LLFA as well as three pieces of mezzanine debt. The owners are likely to default because they haven’t been able ....
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