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JPMorgan to auction $143M in Centro loans

February 02, 2011 12:54PM

New York-based JPMorgan Chase is rumored to be looking to unload $143 million worth of loans it’s owed by Centro Properties Group, according to Bloomberg News. JPMorgan is expected to sell the debt at auction today. Centro, a Melbourne-based shopping mall owner, handed the reins over to creditors in 2008, as debts mounted and loans became more difficult to refinance. The company had $18.6 billion worth of debt as of June 20. [Bloomberg]