Garrison Parks 4 Debt-Laden Properties In Ch. 11

Law360, New York (December 16, 2010, 5:07 PM EST) -- Facing foreclosure and citing difficulties generating enough revenue to service a $116.5 million mortgage entrusted to Wells Fargo NA, Garrison Investment Group has filed bankruptcy petitions for four properties in Reston, Va., of which it is the equity owner.

Garrison's four filings, lodged Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, cite Wells Fargo as trustee for $67 million worth of the mortgage and a Morristown, N.J.-based company called Normandy Reston Office LLC as holding a claim to $39.5 million worth...
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