In 2005, the developers sold the first phase of the mall for $ 142 million, to a partnership of San Francisco-based City Center Retail and New York investment firm Angelo Gordon & Co . The buyers also spent $ 30 million to acquire a leasehold interest in the Denny's site.
32.
The sale, which had been expected earlier this year but was delayed because of its complexity, includes ownership and leasehold interest in 13 U . S . hotels, including properties in Seattle, Phoenix, Houston, Cincinnati, Chicago-O'Hare, San Francisco Airport, San Francisco ( the St . Francis ) and Fort Lauderdale, Fla.
33.
Eugene Pinover, of Willkie Farr & Gallagher, working with Jeffrey S . Katz of Sherwood Equities, a partner of Lehman Brothers in the ownership, devised a document that gives the advertiser a leasehold interest in the property, providing the normal occupancy protections that a tenant has in the event, for example, of a mortgage default.
34.
Eugene Pinover, of Willkie Farr & AMP; Gallagher, working with Jeffrey S . Katz of Sherwood Equities, a partner of Lehman Brothers in the ownership, devised a document that gives the advertiser a leasehold interest in the property, providing the normal occupancy protections that a tenant has in the event, for example, of a mortgage default.
35.
The trustees also conveyed to the Peoria and Eastern their reversionary interest in the lease and the property by a quitclaim deed, dated March 15, 1890, but specified that the lease should not be merged into a sale of the property while certain mortgage obligations under which the leasehold interest had been assigned as security, should exist.
