A distressed apartment building can look like a bargain until the buyer discovers what the purchase price leaves out. That is the real estate warning emerging from an October 15 Bisnow investigation into Nord Group, whose lenders accuse affiliated property owners of retaining rents owed to lenders and supplying false insurance documentation. Nord attorney Jason Kraus told Bisnow the companies vigorously deny the allegations and will defend themselves in court. Those allegations should not be presented as established findings of…
MarketTexas
Houston Apartment Owners Face Rent and Insurance Allegations. Buyers Could Inherit Expensive Problems.
A distressed apartment building can look like a bargain until the buyer discovers what the purchase price leaves out.
