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In the News Press Release

'Insider' Deals Slammed As Gemini Hotels Inch Toward Sale

Publisher: Law360
October 8, 2015

Jim Tancredi was quoted in an article, “'Insider' Deals Slammed As Gemini Hotels Inch Toward Sale,” in Law360. Tancredi is representing lender Cornerstone Real Estate Advisers LLC in Gemini Real Estate Advisors LLC portfolio’s bankruptcy auction. Cornerstone is pushing for changes in stalking horse bids for boutique hotels in the Flatiron district and in Greenwich Village, which are two of the four properties to be auctioned off in the bankruptcy. The concern is hotel submanager Bridgeton Holdings is the current stalking horse. Cornerstone and Gemini equity partner William T. Obeid believe that that Bridgeton’s “insider” status may chill competition for property bids. 

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