Lender Wants $80M From PE-Backed Buyer Of Jameson Inns

Law360, New York (March 16, 2012, 5:36 PM EDT) -- A New York lender on Thursday demanded that a unit of private equity firm JER Partners repay more than $80 million in outstanding mezzanine loans that had been used to acquire more than 100 hotels in the now-bankrupt Jameson Inns chain.

JER Financial Products III LLC breached its contract with Gramercy Warehouse Funding I LLC and Gramercy Loan Services LLC beginning in August when it failed to make payments on the loans, according to Gramercy's complaint filed in New York Supreme Court. JER's October bankruptcy filing...
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