Lenders move to foreclose on $510 million Maclowe loan

09/4/2008 | Wall Street Journal, The

A group of lenders led by Deutsche Bank AG moved to foreclose on a loan on Harry Macklowe's largest development project. Macklowe took out the $510 million loan to build on the former site of the Drake Hotel on Park Avenue in Manhattan. Macklowe and other officials with his company declined comment.

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