Wells Timberland Hits Debt Deadline Early
Here is some good news, Wells Timberland has paid down its mezzanine loan to below $45 million as of May 14, 2009. It needed to have the principal paid down to $45 million by June 3oth. It's good that Timberland achieved this goal six weeks early. The next milestone is to get the mezzanine loan down to $30 million by September 30th.