Capmark bridge loan lender files lawsuit in light of non-repayment

By Caroline Salls

Pittsburgh, April 13 - Capmark Financial Group Inc. lender DK Acquisition Partners, LP filed a complaint against Capmark in connection with the non-repayment of the $48 million principal amount of a bridge loan, according to an 8-K filed with the Securities and Exchange Commission.

The complaint alleges breach of contract, breach of the covenant of good faith and fair dealing and conversion by Capmark in connection with the non-repayment.

According to the 8-K, DK is seeking repayment of principal and interest due under the bridge loan, damages and attorneys' fees and costs.

As previously reported, Capmark has secured an extension of the maturity of the other 94% of the bridge loan to April 20.

Capmark is a Horsham, Pa.-based provider of financial services to investors in commercial real estate assets.

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