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...
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 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...
Investment bank Brean Capital has hired a team of seasoned CMBS servicing professionals and launched a commercial mortgage special servicing operation, Brean Real Estate Solutions The team is comprised of Julie Madnick, Henry Bieber and Linda...
Commercial Real Estate Direct Staff Report Pasquale Cardone, a Citi CMBS trader who left earlier this year, has launched an investment operation that’ll take opportunistic positions in CMBS and real estate equity securities He’s...
Morgan Properties has paid $323 million, or $99,201/unit, for 19 apartment properties with 3,256 units in North and South Carolina The company bought the portfolio from Threshold Capital and has lined up debt from PGIM Real Estate, allowing it to...
A venture of Golden East Investors and Pacific Retail Capital Partners has been selected to take over management of a portfolio of seven shopping malls that Starwood Capital Group had capitalized with an Israeli bond offering and a total of $780...
