Commercial Real Estate Direct Staff ReportThe universe of domestic CMBS transactions has accumulated a total of $1.1 billion of interest shortfalls, according to a tally by Bloomberg.That means investors in CMBS so far have been shortchanged by that amount.Shortfalls generally ...
Commercial Real Estate Direct Staff ReportThe bankruptcy of Innkeepers USA Trust earlier this month could result in the six CMBS deals that hold $1 billion of debt against the REIT's properties to be written down to $700 million.The Palm Beach, ...
Commercial Real Estate Direct Staff ReportCWCapital Asset Management has taken over as special servicer for Wachovia Bank Commercial Mortgage Trust, 2007-ESH, a CMBS transaction backed by $4.1 billion of debt against the Extended Stay Hotels Inc. chain.The debt had been ...
A group led by Centerbridge Partners and Paulson & Co. has agreed to acquire Extended Stay Hotels Inc., offering $3.925 billion to take the troubled company out of bankruptcy, according to reports in the Wall Street Journal and Bloomberg.The group, ...
Goldman Sachs is said to be providing $2.2 billion of financing to a group led by Starwood Capital Group that is vying to recapitalize Extended Stay Inc., according to the Wall Street Journal.The newspaper, citing people familiar with the matter, ...
Commercial Real Estate Direct Staff ReportA total of $1 billion of CMBS loans are backed by hotels owned by Innkeepers USA, which last week said it had not made interest payments on its debt.According to Realpoint, nine CMBS loans with ...
The board of Extended Stay Hotels Inc. has signed a commitment letter putting its support behind a recapitalization proposal by a group led by Centerbridge Partners and Paulson & Co., according to a report in the Wall Street Journal.The proposal ...
A group of investors led by Starwood Capital Group has agreed to invest up to $905 million in Extended Stay Hotels Inc., allowing the company to emerge from bankruptcy, which it filed for last June as a result of its ...
HTML clipboardFollowing is a list of recent downgrades by Moody's InvestorsService: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Reason for Rating Action ...
HTML clipboardFollowing is a list of recent downgrades by Standard &Poor's: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln S&P New Rating S&P Old Rating Reason for Rating Action ...
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