Commercial Mortgage REIT iStar; On The Brink

The REIT iStar, which invests in commercial mortgage loans, is rumored to be very close to defaulting on some of its own mortgage covenants. They are said to be in desperate talks with their creditors to renegotiate their debt.

It was not long ago that iStar was an investment grade company. Today they are on the brink. The once esteemed management team has been reduced to looking under the couch cushions for cash. If the creditors don’t play ball the company could fall…stay tuned.

Private and Institutional Commercial Mortgage Loans – Apply Online MasterPlan Capital LLC

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