What's going on at CA Ventures?
TRD article - https://therealdeal.com/chicago/2023/09/25/ca-ven…
Been hearing rumblings about them being jokers and things not looking great over there for a while, but to summarize:
Being evicted from their HQ for not paying rent
Had several small investors who had loaned money to the investment management entity suing because CA was in default
Not paying for their share of their box at the United Center
Several under construction projects look to be distressed
All of the deals that I've seen them buy or develop over the last several years (from the debt side) have always been high leverage/aggressively underwritten/not made a ton of sense economically
Obviously they've made a name for themselves last cycle and allegedly have 15b in $$$ (with institutional backing), but something seems off over there.
Another upcoming casualty of the high rate environment? Curious if anyone has more direct knowledge.