Subject: Property Management (MGMT)

Commercial Real Estate Direct Staff Report Apollo Commercial Real Estate Finance Inc. has taken control of the 581-room Mayflower Hotel in Washington, D.C., against which it had provided a $20 million junior mezzanine loan in 2015. The property had been owned ...

Crain's New York Business The 282-room Plaza Hotel in Manhattan is scheduled to reopen on May 20. The property, at 768 Fifth Ave., has been temporarily closed since last March as a result of the coronavirus pandemic. Katara Hospitality, an affiliate ...

The Real Deal The 64-room Flatiron Hotel in Manhattan is set to reopen next month. The property, at 9 West 26th St., has been temporarily closed since last March as a result of the coronavirus pandemic. Premier Equities owns the ...

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 properties ...

Atlanta Business Chronicle Brookfield Properties has turned over the Florence Mall in suburban Cincinnati to its lender. A total of 384,111 square feet at the 957,000-sf retail property serves as collateral for a $90 million loan that's securitized through Wells ...

Commercial Observer The 480-room Novotel New York Times Square hotel in Manhattan has permanently closed. Millennium & Copthorne owns the property, which it had bought in 2014 for $273.6 million. The hotel, at 226 West 52nd St., sits between Eighth Avenue ...

Preferred Apartment Communities Inc. has paid $135.7 million for two multifamily properties with a combined 613 units in Florida. The Atlanta REIT bought the properties, the Menlo in Jacksonville and the Blake in Winter Springs, from their developer, Catalyst Development ...

The coronavirus pandemic could result in roughly a quarter of New York City's hotels closing permanently within the coming year, according to the Hotel Association of New York City. The trade group estimates that so far the pandemic has resulted ...

Washington Business Journal New York Life Insurance Co. has taken the 1.4 million-square-foot Dulles Town Center Mall in Sterling, Va., in a deed-in-lieu of foreclosure. The lender has tapped Centennial Real Estate of Dallas to serve as the property's manager. ...

Ashford Hospitality Trust Inc. has transferred to its lenders 13 hotels with 2,127 rooms that backed $405.1 million of debt during the third quarter. The Dallas REIT expects to give up more properties, as they continue to face challenges as ...