Petra Says Real Estate Co. Owes $77M On BofA Tower Loan

Law360, New York (November 16, 2011, 5:29 PM EST) -- A Petra Capital Management fund told a New York court Nov. 11 that trusts affiliated with commercial real estate investment firm BentleyForbes owe about $77 million after unilaterally changing lease terms for a tenant in Atlanta's 55-story Bank of America Plaza.

Petra CRE CDO 2007-1 Ltd., a fund affiliated with Petra Capital Management, alleged in a complaint filed in August that trusts affiliated with Los Angeles-based BentleyForbes owe Petra about $77 million under a mezzanine loan after changing the terms of Bank of America NA's lease...
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