Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home DramaAlert

Landmark Gets No Offers At Charles Cohen Foreclosure Auction But Fortress Bids $5 Million Bid For Curzon

rmtsa by rmtsa
November 10, 2024
in DramaAlert
0
Landmark Gets No Offers At Charles Cohen Foreclosure Auction But Fortress Bids  Million Bid For Curzon
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Donald Trump Adviser Says ICE Agents Will Be At Super Bowl

Diddy Writes Letter To Judge Before His Sentencing Tomorrow • Hollywood Unlocked

Diddy Apologizes For All The Hurt and Pain He’s Caused in Letter to Judge

Creditor Fortress was the only bidder for a handful of properties owned by Charles Cohen at a foreclosure auction Friday that saw the lender offer $5 million for U.K.’s arthouse theater chain and distributor Curzon.

There were no bids for Landmark Theatres, a person familiar with the situation tells Deadline, and we hear it will stay with Charles Cohen and could be business as usual. It doesn’t appear the auction entertained bids for individual theaters. Cohen’s group has maintained that the chain is not in jeopardy and that it expected a positive outcome — if zero bids can be considered positive.

The indie distribution community generally isn’t enamored of the way Landmark’s been run since Cohen acquired it in late 2018, citing lack of investment, a move to wide releases and the shuttering of key theaters including the Landmark LA, which closed in the spring of 2022 after losing its lease. To be fair, Covid was a money sucking disaster for cinema owners including the nation’s once dominant arthouse chain.

Fortress, it seems, is now on a path to control Curzon, the well-regarded exhibitor and distributor across the pond. Deadline will update when we get a sense of what’s happening there.

Fortress lent Cohen $534 million backed by a handful of properties including Landmark and Curzon and sued him earlier this year for default. A New York State Supreme Court judge agreed to Fortress’ request for an auction to recoup what it could and set it for Nov 8.

At the event Friday, Fortress also bid $76 million for the Design Center of the Americas and $30 million for Le Meridien hotel, both in Dania Beach, Fla. It bid $37.7 million for the former Doral Arrowwod golf club in Westchester, New York, according to New York real estate publication The Real Deal. A credit bid is one made by a lender at a foreclosure using all or part the debt owed as the bid amount. The lender is often the highest bidder at a foreclosure sale.

Fortress’ credit bids at the auction totaled $148.7 million.

In a deposition Fortress made public last month, Cohen was asked about the properties’ underlying its loan and did not disagree with statements that Landmark showed a net loss of more than $14 million and Curzon of just under $8.5 million, and that the value of Landmark in particular had fallen dramatically.

Fortress is also entitled to a legally binding $187 million personal guarantee by Cohen and has accused the real estate mogul of moving properties out of his name to evade the order.



Source link

Tags: auctionBidBidsCharlesCohenCurzonForeclosureFortressLandmarkMillionOffers
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Donald Trump Adviser Says ICE Agents Will Be At Super Bowl

by rmtsa
October 3, 2025
0
Donald Trump Adviser Says ICE Agents Will Be At Super Bowl

After hearing comments from Bad Bunny about wanting to protect his fans, a Donald Trump advisor wants people to know that nowhere in the United States is “safe”...

Read more

Diddy Writes Letter To Judge Before His Sentencing Tomorrow • Hollywood Unlocked

by rmtsa
October 3, 2025
0
Diddy Writes Letter To Judge Before His Sentencing Tomorrow • Hollywood Unlocked

Introduction: Diddy Writes Letter To Judge Before His Sentencing Tomorrow #Socialites, this one’s heavy. Music mogul Sean “Diddy” Combs is facing his day of reckoning tomorrow after being...

Read more

Diddy Apologizes For All The Hurt and Pain He’s Caused in Letter to Judge

by rmtsa
October 2, 2025
0
Diddy Apologizes For All The Hurt and Pain He’s Caused in Letter to Judge

Diddy Sorry For The Pain I Caused So Many ... Current Situation Is My Fault Published October 2, 2025 2:15 PM PDT Diddy is taking responsibility for his...

Read more

7 Black-Owned Companies Taking AI By The Horns

by rmtsa
October 2, 2025
0
7 Black-Owned Companies Taking AI By The Horns

by Ahsan Washington October 2, 2025 These companies are using AI to tackle real-world issues. In the fast-paced world of technology, artificial intelligence is making waves across industries...

Read more

Kylie Kelce Breaks Down While Detailing Past Miscarriage

by rmtsa
October 2, 2025
0
Kylie Kelce Breaks Down While Detailing Past Miscarriage

"I emphasize the fact that this still hurts after having four children, because it does. And it's okay," said an emotional Kylie, who shares daughters Wyatt, 6, Elliotte,...

Read more
Next Post
Sunrise Yoga and Sisterhood: How This Caribbean Retreat Is Inspiring New Paths To Self-Discovery And Self-Care – Essence

Sunrise Yoga and Sisterhood: How This Caribbean Retreat Is Inspiring New Paths To Self-Discovery And Self-Care - Essence

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Why Captain Triumph Could Be Peacemaker Season 2’s Real Villain
  • Taylor Swift, Luke Combs, Leon Thomas & More
  • Chris Meloni Deleted Scene Law and Order Organized Crime Season 5

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In