Real estate syndicator Hall restructured some debt.
- Share via
Dallas-based Hall Financial Group said it has restructured nearly $84 million in loans on 14 apartment complexes with 3,224 units in Arizona. The agreement with Beverly Hills Savings & Loan Assn. largely completes Hall’s yearlong effort to restructure $500 million in debt and ends nine months of legal maneuvering by Hall and the lender. In March, Beverly Hills Savings, which was taken over by federal regulators last year, began foreclosure proceedings against Hall. Then Hall sued Beverly Hills Savings for alleged violation of Texas’ usury law, which limits interest rates to 18.56%. Hall said its attorney will now file to dismiss those suits.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.