Sources: Colony Capital to return $2 billion Xanadu project to lenders

08/5/2010 | Wall Street Journal, The · Bloomberg

A Colony Capital-led group is expected to return the ambitious $2 billion Xanadu project in New Jersey back to its lenders, according to sources. The group, which includes Dune Capital Management, has been struggling to replace the $500 million credit line it lost when Lehman Bros. filed for bankruptcy in order to complete the project. It was originally conceived to be one of the top retail destinations in the country.

View Full Article in:

Wall Street Journal, The · Bloomberg

Published in Brief: