Commercial Real Estate Direct Staff Report MIG Real Estate has paid $72 million, or $240,802/room, for a pair of hotels with 299 rooms in San Diego The Newport Beach, Calif, investor acquired the Courtyard San Diego Old Town, with 176 rooms at 2435...
Crain’s New York Business Watermark Lodging Trust plans to sell its Holiday Inn Manhattan Sixth Avenue Hotel, with the hope that a buyer would assume a $7072 million securitized loan against the 226-room property Watermark’s plans were...
RLJ Lodging Trust has paid $513 million, or $301,764/room, for Moxy Denver Cherry Creek, a 170-room hotel in Denver The Bethesda, Md, REIT purchased the property from BMC Investments of Denver The property, at 240 Josephine St, opened in 2017 and...
Commercial Real Estate Direct Staff Report The CMBS trust that held a $7422 million mortgage against the Kitsap Mall in Silverdale, Wash, has taken the shopping center through foreclosure The loan, securitized through WFRBS Commercial Mortgage...
The lender holding the $100 million mezzanine loan backed by ownership interests in the Union Station mixed-use complex in Washington, DC, has acquired the securitized senior loan against the property The senior loan, which had defaulted last April,...
Commercial Real Estate Direct Staff Report BofA Securities, Morgan Stanley and Wells Fargo Securities have launched the year’s first CMBS conduit transaction The $12 billion deal, BANK, 2022-BNK39, is backed by loans originated by the three...
Empire Hotel, with 423 rooms and 61,223 square feet of retail space in Manhattan’s Columbus Circle area, has been appraised at a value of $137 million That’s nearly one-third the value pegged to it in 2013, when a $180 million loan was...
The volume of CMBS loans in special servicing declined yet again in December, for the 15th straight month, to $3807 billion from $3873 billion in November, according to Trepp Inc That volume is one-third lower than the $5637 billion that was in...
The suburban Chicago mall was taken through foreclosure late last year by UBS-Barclays Commercial Mortgage Trust, 2012-C2, the CMBS trust that held $85 million of financing against it The debt is one of four troubled mall loans in the transaction,...
The 575 properties that were re-appraised last year saw a 344 percent decline in volume By sector, retail was the hardest hit, suffering a 437 percent drop in appraised...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
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