In Q3 ’19 BH3 acquired the defaulted $200 million senior mortgage from United Overseas Bank of Singapore secured by 125 Greenwich, a partially-completed 912-foot supertall residential tower in Manhattan’s Financial District. 125 Greenwich is comprised of 273 residences encompassing over 320,000 net leasable square feet.
BH3 successfully sold this loan in Q1 ’20 to Fortress Investment Group for the full indebtedness due of approximately $230 million.
