The news just keeps getting better and better….
Here is the applicable wording:
The two Northwestern Debtors are essentially single asset real estate entities. The formulation of a plan for these two cases should not be complicated or overly time consuming. Presumably the Debtors will desire to extend the maturities of existing loans and/or work out a consensual rate of interest with respect to the loans following their current maturity. As long as the parties negotiate in good faith and do not “drag their feet” this process should take no longer than 45 to 60 days, assuming the parties can come to an agreement. While Northwestern is not committing to any agreement with the Northwestern Debtors, Northwestern stands ready and willing to enter into negotiations in order to move the process along.
Here is the full filing:
Northwestern GGP
For more explanation, please refer to this previous post from this morning.
Disclosure (“none” means no position):Long GGWPQ