Report: CWCapital Looks To Sell Stuy Town, Peter Cooper Separately

Posted by Orb Staff on April 26, 2010 No Comments
Categories : Commercial Mortgage

CWCapital, the special servicer tapped to manage New York's Stuyvesant Town/Peter Cooper Village loans, has sought court approval to auction the two complexes separately.

According to a Reuters report, CWCapital attorneys have asked a U.S. District Court judge to issue a summary judgment that would allow the servicer to proceed with the sale.

The properties were transferred to CWCapital in January after Tishman Speyer, which bought the complexes in 2006, defaulted on its loan. The complexes have always been jointly managed, Reuters notes, citing a Deutsche Bank research note from Friday.

SOURCE: Reuters

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