Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.
Locally based Flaherty & Collins Properties plans to build retail and residential space on land that surrounds two downtown public housing towers.