Marbury Plaza gets approval to increase DIP loan to $18 million

By Sarah Lizee

Olympia, Wash., May 8 – MP PPH LLC’s (Marbury Plaza) motion seeking approval to increase its $10 million debtor-in-possession note facility by $8 million was approved Wednesday by the U.S. Bankruptcy Court for the District of Columbia, according to an order.

The lender is PP & H Realty, LLC, the 100% equity owner of the debtor.

The Melville, N.Y.-based company owns the Marbury Plaza, a 674-unit low-income tax credit and market-rate multifamily apartment complex in Washington, D.C. The debtor filed bankruptcy on Aug. 31, 2023 under Chapter 11 case number 23-00246.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.