Hovnanian Leads Builder Stocks Higher | Press RealEstateRama

An investor group led by hedge fund Paulson & Co. placed five well-known luxury resorts into Chapter 11 bankruptcy Tuesday as the properties faced a deadline to repay $1.525 billion in secured debt. The resorts, part of a group of holdings ... The Paulson-led investment group, known as CNL-AB LLC, seized those five properties, and three other resorts that aren't part of the bankruptcy, on Friday from a Morgan Stanley (MS) real-estate fund through a foreclosure proceeding. ...

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