Pyramid Management Group’s problems keep piling up. The commercial owner recently lost the Aviation Mall in Queensbury, north of Albany, to foreclosure. It’s the third mall the landlord has lost to foreclosure in the last year, Syracuse.com reported. Last month, a judge approved the foreclosure of the mall, ordering the asset be auctioned off within 90 days or as soon as possible. Pyramid defaulted on a $26 million mortgage backing the mall last year, failing to pay its debt by the loan’s maturity date. The Royal Bank of Scotland provided the mortgage in 2010. Deutsche Bank Trust Co. Americas later […]
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