Trump SoHo Backers Say Debt to iStar ‘Substantially Paid Down’
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iStar Financial Inc., the commercial real-estate lender seeking to avert a bankruptcy filing next year, received money from a debt recapitalization by the 46-story Trump SoHo hotel and condominium in New York.
iStar has been “substantially paid down and all project indebtedness has been extended as a result of new debt financing provided by CIM Group LLC,” Trump SoHo developers Bayrock Group LLC and Sapir Organization said in an e-mailed statement, without providing further financial information.