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Home > Hotel Sector Gets Hammered with Loan Defaults Skyrocketing; Recovery Could Take Years
Commercial Real Estate Direct Staff Report SL Green Realty Corp has received a maturity extension, to November 2026, for its $1901 million loan against the 50,000-square-foot office property at 185 Broadway in downtown Manhattan The New York REIT...
Rents at the major apartment-owning REITs averaged $2,377/unit in the fourth quarter, up 391 percent from a year earlier Meanwhile, the year-over-year rent growth that the REITs experienced was substantially more than the 047 percent growth that was...
Commercial Real Estate Direct Staff Report The $2549 million of securitized debt against the 980,711-square-foot Providence Place Mall in Rhode Island has been transferred to special servicing due to imminent default The loan’s transfer to...
Commercial Real Estate Direct Staff Report Primestor Development has lined up $54 million of financing for its purchase of the 357,000-square-foot Esplanade Shopping Center in Oxnard, Calif PSRS arranged the financing, which was provided by an...
Commercial Observer Yellowstone Real Estate has paid about $200 million for the distressed loan against the 603,928-square-foot office building at 1740 Broadway in Manhattan Midland Loan Services, special servicer for the CMBS trust that holds the...
Commercial Real Estate Direct Staff Report Goldman Sachs Bank USA has provided $33 million of financing against Sheraton Park City, a 200-room hotel in Park City, Utah Berkadia arranged the loan, which has a five-year term and pays a fixed rate It...
Commercial Real Estate Direct Staff Report Orda Management Corp, which owns Manhattan’s 225 and 233 Park Ave South, is expected to default on the 675,756-square-foot office property’s $235 million CMBS loan As a result, the loan has been...
Commercial Real Estate Direct Staff Report The $19 million CMBS loan against the 182,505-square-foot office property at 700 17th St in Denver has transferred to special servicer LNR Partners as it is more than 90 days delinquent The transfer was...
Commercial Real Estate Direct Staff Report The $2584 million loan against Philadelphia Mills, a 158 million-square-foot shopping mall in Philadelphia, has been transferred to special servicing due to imminent default The transfer, to Greystone...
The vacancy rate for apartment properties in Phoenix was 95 percent in the first quarter, down from 98 percent in the previous quarter, according to Kidder Mathews Meanwhile, rents last quarter increased to $1,525/unit, from $1,514/unit at the end...
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© 2023 Commercial Real Estate Direct All rights reserved..
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