Great Western already operates 23 home loan offices in Florida and says it is one of the state's leading real estate lenders.
G.E., a huge real estate lender, slid 5/8, to 51 1/4, on 2.3 million shares.
Today that figure exceeds $3 billion, making Balcor one of the country's leading real estate lenders.
Fox is also a co-Founder of A10 Capital, a Boise, Idaho-based distressed commercial real estate lender.
Cumberland's 70 other real estate lenders and trade creditors had supported the plan, the company said.
He is a commercial real estate lender.
Galloping in as the white knight was not some vulture fund but one of the most conservative of real estate lenders.
The Michigan National Corporation is another heavy real estate lender whose debt ratings are under downward pressure.
Mr. Malkin said that life insurance companies and other traditional real estate lenders shy away from retail condos because of the division of ownership issue.
Part of that may be weather-related, but another part reflects the tide of red ink at real estate lenders.
