Non-Income Producing Properties that Never Operated can be Single Asset Real Estate Under the Bankruptcy Code
ABI
JANUARY 22, 2023
vi] Shady Bird Lending LLC (“Shady Bird”) subsequently purchased Evertrust’s interests in the loan and initiated a foreclosure action on The Source Hotel–which was 85% completed and was not generating any income. Tags: Bankrupcty [ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case.
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