In a June lawsuit, Meister alleged that the deal was part of a "loan-to-own" scheme involving so-called predatory behavior by the Sheffield57 lenders, including Wells Fargo, the trustee of the senior mortgage loan and Guggenheim Structured Real Estate, which held the senior mezzanine loan before selling it to Fortress.
What does GSRE stand for?
GSRE stands for Guggenheim Structured Real Estate (stock symbol)
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Samples in periodicals archive:
Fortress agreed in June to buy a $70 million senior mezzanine loan from Guggenheim Structured Real Estate and a $32 million senior loan from Wells Fargo after Swig defaulted on those loans.
Under the proposed deal, Guggenheim Structured Real Estate would sell its debt in the building, which includes a senior mezzanine loan of $76 million and a junior mortgage loan of about $2 million, sources said.