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Real Estate & Property Law

: The Home Equity Theft Reporter

Minneapolis Non-Profit Solicits, Obtains Sale-Leaseback Offer On Building To Bail Itself Out Of Possible Foreclosure; City Debt To Be Paid In Full

By r morris

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In Minneapolis, Minnesota, Finance and Commerce reports:St. Paul-based Wellington Management Inc. has a deal to buy the Minneapolis home of the nonprofit Green Institute, an environmental consultant/salvage center that has struggled to stay current on loans from the city and its bank. With the sale of the building, ?We?ll be completely out of debt, which will be nice,? said Jamie Heipel,

Full post as published by The Home Equity Theft Reporter on February 17, 2009 (boomark / email).

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