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05/02/09
Lender: Opus West owes more than $160M
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:41 pm

One of the Phoenix area’s largest commercial developers is showing signs of financial stress that local experts say is a symptom of widespread economic problems facing the industry this year.

 

A group of lenders led by Bank of America has filed a complaint in Maricopa County Superior Court claiming that Opus West Corp., based in Phoenix, owes the banks more than $160 million in unpaid construction loans, interest and legal fees.  more…


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