THE RNY Property Trust has reached agreement with its lenders to extend a $US196 million loan, due 11 September 2010.
The lenders represented by a special servicer committee have agreed to extend the loan for 45 days on the existing terms.
RNY said it is in discussions with the special servicer relating to a longer term extension but said there can be no assurances that discussions will be successful.
Australian Property Journal
