A form of unregulated, high- interest lending that took hold in commercial real estate may end up leaving sour tastes in borrowers' mouths.
Debt funds emerged the last several years as providers of a key, but risky, type of floating rate short-term loan for some local owners and developers.
The reported pending sale of the Townsend Hotel in downtown Birmingham to a well-known Oakland County businessman won't be without its challenges moving forward, assuming the deal finalizes.