Jay-Z is reportedly suing investment firm Highland Capital Management for $3.7 million over a 2007 loan he took out to build a hotel in Manhattan.
According to XXL, Jay took out a $52 million loan to build a new hotel called J Hotel, but when the real estate market crashed he tried to give the property back to Highland in order to avoid foreclosure, and they refused to accept it.
The investment firms lack of cooperation ended up costing Jay millions in interest fees and other costs.
Hov has now filed a lawsuit with the firm seeking $3.7 million in damages.
