Ashford Hospitality Trust Inc has transferred to its lenders 13 hotels with 2,127 rooms that backed $4051 million of debt during the third quarter The Dallas REIT expects to give up more properties, as they continue to face challenges as a result of...
Commercial Real Estate Direct Staff Report The $600 million CMBS loan against a portfolio of 29 hotels with 7,015 rooms owned by Atrium Hotels has fallen delinquent The delinquency, highlighted by Kroll Bond Rating Agency in its latest CMBS Loan...
A total of 86 CMBS loans with a balance of $41 billion are now classified as being in foreclosure or their sponsors are negotiating to turn their properties over in deeds-in-lieu of foreclosure, according to Trepp LLC That volume is a subset of the...
Commercial Real Estate Direct Staff Report Goldman Sachs has launched a $265 million CMBS transaction against a portfolio of 58 InnTown Suites extended-stay hotels with 7,140 rooms owned by affiliates of Starwood Capital Group It’s not the...
Vornado Realty Trust has secured $500 million of financing against Penn 11, a 12-million-square-foot office building in Manhattan The interest-only loan, from an undisclosed lender, pays a coupon of Libor plus 275 basis points and matures in October...
Commercial Real Estate Direct Staff Report The Starwood Capital Group venture that owns the Louis Joliet Mall in the Chicago suburb of Joliet, Ill, is negotiating a handover of the property through a deed-in-lieu of foreclosure to its lender,...
Shopping malls continue to face challenges, but well-capitalized sponsors increasingly have been able to negotiate modifications for loans against properties that had performed strongly before the coronavirus...
Pyramid Cos has reached an agreement for the modification of a CMBS loan against another of its shopping malls That brings the volume of loans for which the Syracuse, NY, developer has reached modification agreements to $2 billion, or 91 percent of...
Commercial Real Estate Direct Staff Report Pennsylvania REIT has reached a modification agreement with 80 percent of the lenders on nearly $11 billion of outstanding debt The Philadelphia company owns 26 retail properties with more than 20 million...
Commercial Real Estate Direct Staff Report The $168 million mortgage against the Park Place Mall in Tucson, Ariz, has moved to special servicing as it’s expected to default The property’s owner, meanwhile, has indicated that it is...
