Macklowe Gets Extension from Lenders

Harry Macklowe, struggling with $7 billion of debt come due, has reached an extension agreement with his lenders, according to a statement put out by his spokesman, Howard Rubenstein.

Mr. Macklowe, who is taking bids today for his prized GM Building, was granted extensions of unspecified terms by both Deutsche Bank and Fortress Investment Group, his principal lenders, according to Mr. Rubenstein. Repayments on much of Mr. Macklowe’s debt were due a week ago. Bloomberg.com has a bit more here.

We’ll see what the weekend brings…

Macklowe Gets Extension from Lenders