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What: Shares of commercial-real-estate-focused REIT iStar Financial
So What: Another quarter marked another loss for iStar. Still, the company also managed to bring in more than $1 billion from principal repayments and sales of loans, other real estate owned, and corporate tenant leases. This allowed the company to announce that it will repay its $1 billion credit facility, due in 2012. This latter bit of news likely had shares jumping, since it sparked hope that iStar would be able to stay on its feet under the weight of its heavy debt load.
Now What: iStar appears to be doing what it can to manage its debt issues, but the company's looming maturities in 2011 remain its biggest problem. Prepackaged bankruptcy was on the table as recently as late last month, when Bloomberg reported that iStar had engaged Lazard
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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy assures you no Wookiees were harmed in the making of this article.