Rss Feed
Tweeter button
Facebook button
Technorati button
Reddit button
Myspace button
Linkedin button
Webonews button
Delicious button
Digg button
Flickr button
Stumbleupon button
Newsvine button

Reworked deal helps St. Charles Town avoid foreclosure









Dennis Huspeni
Reporter- Denver Business Journal

Email
 | Facebook
 | Twitter
 | Real Deals blog

St. Charles Town Co. 


has avoided a foreclosure on its Sloans Lakefront Market by doing what many commercial developers have done: refinancing the deal by bringing more equity to the table.

Foreclosure proceedings had begun against the company, headed by Denver developer Charlie Woolley, although it hadn’t missed a payment, and the 11-business property was generating income and was (and is) almost 100 percent occupied.

Next, Woolley and CFO Darrin Grommeck got the original investors to reinvest in the project, injected some of St. Charles’ own capital and found a lender interested in Sloans.

“We don’t believe the foreclosure proceedings …

Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog.

bizWatch

See all your followed company news on your personalized dashboard.

To access the full benefits of bizWatch and receive a weekly email with aggregated news on all the companies you are following, please provide your email address below.

You must have a bizjournals account to follow a company.
Please Log In or Register.

Already a subscriber? Sign in to link your subscription

Article source: http://www.bizjournals.com/denver/print-edition/2012/06/29/reworked-deal-helps-st-charles-town.html

Speak Your Mind

*