CIBC sells distress loan on Fifth Avenue to Flambeau

Daniel Heflin of Torchlight and 445 Fifth Avenue. (Google Maps, LinkedIn via Heflin) New York’s long-awaited troubled deals may finally start to appear. Canadian bank CIBC sold a $ 40 million delinquent loan on the retail stretch of 445 Fifth Avenue to a loan fund linked to Torchlight Investors. Harbor …

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