The building is apparently worth 40. And it's completely empty and derelict.
B Note holder now own the equity in Poultry development Co, but the special servicer then says to REU "can you service the loan". If not A Notes could elect to extend but most likely sell the property at a loss to B
Why do you say RAT is also dead in the RAT thread? The non extension on Poultry has nothing to do with RAT's relationship to CS if that's what you linked together.
The advantage with RAT is the loans are long so they can perform. Issue with REU is the two key loans were short so can't get refinanced.
REU Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
