NYT – A Florida real estate company has declined to participate in a $400 million loan to the hedge fund that runs the Sears Holdings.
On Thursday, Fairholme Capital Management, one of Sears’ largest shareholders, said that it was unable to reach an agreement with the real estate firm, St. Joe Company, to participate in the loan. Fairholme was in discussions with St. Joe to contribute up to $100 million, according to a filing on Sept. 18 with the Securities and Exchange Commission.
