Talk of settlement at Summit and Pinnacle hearing, but no resolution yet

The bankruptcy sale of 5,151 apartments from Pinnacle Group to Summit Properties is on the eve of a possible confirmation.  But the sale was unable to close at a Thursday court hearing. The city and tenants had objected to the sale, prompting hours of cross examination and argument before a bankruptcy court judge. Despite conversations about a settlement between the parties, no agreement was reached by the end of the hearing, with an attorney for the city saying that getting approval from the administration would go beyond business hours. By the end of the day, the U.S. bankruptcy court judge, […] This article originally appeared on The Real Deal. Click here to read the full story.