Things just keep getting worse for Norman Kravetz. The Realty Bancorp Equities principal defaulted this summer on the commercial mortgage-backed securities debt connected to a five-office-property portfolio, and now faces calls to cede control to a court-appointed receiver. The calls are coming via a Wells Fargo Bank unit on behalf of the commercial mortgage-backed securities holders. Kravetz-linked entities are on the hook for around $70 million, which is more than five-building portfolio is worth. The 346,800-square-foot portfolio is spread over the San Fernando Valley, including three properties in Agoura Hills — one of which was home to the Los Angeles […]
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