Keith Larsen on Muck Rack

Keith Larsen

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New York
As seen in: The Real Deal, Yahoo Finance, Yahoo Finance Singapore, Bizwomen, Bored Panda, Dayton Business Journal, Flipboard, Orlando Business Journal, Silicon Valley Business Journal, South Florida Business Journal, Tampa Bay Business Journal and
I cover all things real estate for The Real Deal in NYC. Reach me at kl@therealdeal.com.
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Articles

David and Michael Shabsels’ summer camp empire files for bankruptcy

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By Keith Larsen 
| The Real Deal
An American summer camp empire filed for bankruptcy after the owners, David and Michael Shabsels, missed their payments to bondholders in Israel and transferred $34 million to themselves. Simad Holdings, the owner of about 30 popular summer camps such as Camp Blue Star and Mohawk Day Camp, filed for Chapter 11 bankruptcy in New Jersey on June 4, listing 50,000 to 100,000 creditors and $500 million to $1 billion in liabilities.
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Summer camp empire stopped making payments shortly after $195M raise in Israeli bond market

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By Keith Larsen 
| The Real Deal
The owners of Camp Blue Star, Mohawk Day Camp and dozens of other summer camps across the Northeast revealed they defaulted on payments to Israeli bondholders and transferred $34 million to companies they control. Michael and David Shabsels closed a $195 million bond deal in December. They own about 30 American sleepaway and day camps, making them a large player in a fragmented industry.
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Rotem Rosen snags $200M loan for 57th Street condo project

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By Keith Larsen 
| The Real Deal
Rotem Rosen landed a $200 million condo inventory loan for his high-rise luxury condo project on Manhattan’s 57th Street, The Real Deal has learned. MRR Development, led by Rosen and Indian billionaire Anand Mahindra, secured the loan from BHI for its 145-unit Malabar Residences at 126 East 57th Street, sources said. The loan replaces a $170 million construction loan from Bank OZK. The new financing will be used to carry costs as the 29-story luxury condo project nears completion.
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