Domino Sugar Site To Sell For $160M To Two Trees

Law360, New York (June 11, 2012, 2:57 PM EDT) -- Community Preservation Co., half of the rocky joint venture that owns the former Domino Sugar factory site in Brooklyn, has reached a tentative agreement to sell the property to Two Trees Management Co. LLC for more than $160 million, a CPC representative said Monday.

The deal is not final, but the parties have signed a preliminary term sheet that could jump start development at the 11-acre site, which has sat dormant for months as CPC and co-owner the Katan Group sparred over a $125 million debt...
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