Criimi Mae asked the bankruptcy court Tuesday for an additional two months to file a reorganization plan that is due Aug. 2, citing ongoing talks to raise $200 million for its recapitalization.

It said it was in negotiations for an equity investment of $200 million that would be part of approximately $920 million it proposed to use to reorganize itself. The investor is conducting due diligence, Criimi Mae said, adding that its adviser, Wasserstein Perella & Co., expects an agreement can executed by the end of July.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.