The lender, which had provided $85 million of mezzanine debt against the equity in the seven select-service hotels, has taken over the properties They previously were owned by a venture of Hersha Hospitality Trust and Cindat Capital Management The...
McKinley Mall, an 846,847-square-foot enclosed shopping mall in Buffalo, NY, is being offered for sale by Rialto Capital Advisors, which is managing a $326 million mortgage against it Three of the property's four anchor spaces are...
Commercial Real Estate Direct Staff Report AvalonBay Communities Inc started seeing signs of a recovery during the fourth quarter in markets that were hardest hit by the coronavirus pandemic The Arlington, Va, REIT’s 3,788 apartment units in...
The CMBS market appears to be continuing to stabilize following the coronavirus-induced trough as the volume of loans in special servicing declined by another 1 percent last month, to $5196 billion, according to Trepp LLC February marks the fifth...
The volume of delinquent CMBS loans declined by a whopping $43 billion last month, to $3676 billion, according to Trepp LLC That brings the volume of loans that are more than 30 days late with their payments to its lowest level in 10 months But $124...
Seven shopping malls owned by Simon Property Group have seen their appraised values sharply reduced in recent months, most to levels less than what is owed against them The properties are encumbered by a total of $6682 million of CMBS debt Simon has...
Commercial Real Estate Direct Staff Report Summit Hotel Properties Inc’s revenue per available room was $4279 in the fourth quarter, a 637 percent decline from a year ago That drop is in line with the 635 percent drop in RevPAR, to $4683, the...
Ladder Capital Corp, which like other mortgage REITs was hammered by the coronavirus pandemic, prompting it to sharply reduce its lending activity, has started lending once again The company has nearly $300 million of fixed- and floating-rate loans...
Commercial Real Estate Direct Staff Report Chatham Lodging Trust’s revenue per available room in the fourth quarter was $4730, a 179 percent decrease from $5760 in the third quarter and a 604 percent drop from $11940 a year earlier Dennis...
Orlando Business Journal A foreclosure suit has been filed against the owner of the Florida Hotel & Conference Center in Orlando, Fla Tantallon Orlando LLC owns the 511-room property, at 1500 Sand Lake Road, which serves as collateral for $40...
