Broadway Partners deals with debt

April 23, 2008 10:18AM

New York-based Real Estate Investor Broadway Partners bought several
billion dollars worth of property in 2006 and 2007, at the height of
the market, borrowing short-term debt that comes due in early 2009. The
company is considering selling some properties and refinancing others,
nationwide, in an effort to raise $200 million and buy some of its debt
back at a discount before it is due. Around $750 million in debt that
Broadway received an extension on comes due next January, and an
additional $440 million comes due in May 2009.


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