Posted Sep 25, 2017, 5:46 AM
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Biased in a good way?
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Join Date: Apr 2015
Location: Chicagoland
Posts: 264
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Quote:
Originally Posted by kolchak
Didn't this tower already secure a construction loan to the tune of several hundred million?
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Per the linked article ^
Quote:
Does that mean the project is at risk?
Not at the moment. But there’s political risk in China, which could lead to financial risk here. If companies fall out of favor with China’s rulers, they can suffer. The Chinese government has been pressuring banks to decrease lending for big overseas property investments. Vista Tower has a $700 million construction loan from a midtier Chinese bank that has a portfolio heavy with nonperforming debt. If Vista’s loan falters or the Chinese government compels the bank to scale back, the project or its bank might be forced to find a new lender to keep money flowing to contractors. That could cause delays.
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http://www.chicagomag.com/Chicago-Ma...7/Vista-Tower/
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