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Law360 (June 5, 2020, 4:04 PM EDT ) Acento Real Estate Partners has landed $114 million in financing for its recent purchase of three Baltimore-area multifamily properties, Commercial Observer reported on Friday. The Freddie Mac loan is for Chatham Gardens in Ellicott City, Old Orchard Apartments in Catonsville and Burnam Woods Apartments in Nottingham, which have a combined 774 residential units, according to the report. Acento is also planning renovations at common areas of the properties, Commercial Observer reported.
24 Hour Fitness Worldwide Inc., which owns more than 430 gyms, is in talks to find a buyer as it plans to file for bankruptcy, Bloomberg reported on Thursday, citing sources with knowledge of the matter. The company is seeking to solicit bids ahead of a planned filing after missing a June 1 bond interest payment, according to the report.
Time Equities and JK Equities have halted construction at a Michigan Avenue condo tower project in Chicago, Crain's Chicago Business reported on Friday, citing sources with knowledge of the matter. The companies have pumped the brakes on their 74-story, 421-unit project at 1000 S. Michigan Ave. out of concerns about spreading the coronavirus, according to the report.
--Editing by Alanna Weissman.
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