Gramercy Capital is likely to lose about 195 properties after failing to repay $790 million in loans, Bloomberg reports. The loan was provided by Goldman Sachs Mortgage, SL Green Realty and Citicorp North America.

The loans are secured by mortgages on properties held by the New York-based real estate investment trust’s Gramercy Realty division. The lenders may seek alternative remedies, including foreclosures on all or the majority of Gramercy’s collateral.

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