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Lodging delinquencies among commercial-mortgage-backed-security (CMBS) loans rated by Kroll Bond Ratings Agency reached 21.6 percent last month, up from 13.6 percent in May. (iStock)

TRD Insights: Hotel CMBS delinquencies jumped in June

Hotels’ occupancy rates have been rising, but their loan troubles are through the roof. Hotel delinquencies among commercial mortgage-backed...

TRD Insights: Hotel CMBS delinquencies jumped in June
Barry Sternlicht (Getty)

Barry Sternlicht predicts “tipping point” for NYC

Until a vaccine can prevent the spread of Covid-19, New York City risks losing residents and tax revenue, creating...

Barry Sternlicht predicts “tipping point” for NYC
Fed Chairman Jerome Powell and Treasury Secretary Steve Mnuchin (Getty)

Politicians want Feds to rescue CMBS market

As hotels and retailers struggle to pay their mortgages in the age of coronavirus, political consensus is emerging around the need for the federal government to prop up the commercial mortgage-backed securities market. A...

Politicians want Feds to rescue CMBS market
Beekman Tower at  3 Mitchell Place (Google Maps, Wikipedia Commons)

Beekman Tower loan trouble reveals mystery behind landmark’s owner

Located one block north of the United Nations, Beekman Tower was built in 1928 and is an early example...

Beekman Tower loan trouble reveals mystery behind landmark’s owner
Thomas Barrack and (from top) Sheraton San Jose Hotel in Milpitas, CA; The Westin Governor Morris in Morristown, NJ; Four Points by Sheraton Destin in Fort Walton Beach, FL (Barrack by Jared Siskin/Patrick McMullan via Getty, Google Maps, Westin, Marriott)

Inside the “legacy” hotel assets Colony Capital is pivoting away from

Tom Barrack’s Colony Capital has spent the last several years pivoting away from “legacy” real estate assets toward digital...

Inside the “legacy” hotel assets Colony Capital is pivoting away from
Hudson Commons and 444 N. Michigan Ave. 

TRD Insights: Can CLOs recover from the pandemic?

One of the fastest growing segments of the commercial real estate financing space has been commercial real estate collateralized...

TRD Insights: Can CLOs recover from the pandemic?
Hotel operators trek into special servicing and it may take years before they get out (iStock)

Submerged in securities: Many CMBS hospitality loans may be underwater soon

Carlos Rodriguez Sr. set off from Costa Rica nearly 25 years ago for what seemed like a surefire bet:...

Submerged in securities: Many CMBS hospitality loans may be underwater soon
Ceruzzi Properties’ Arthur Hooper and the Lipstick Building at 885 Third Avenue(Google Maps; Hooper by Sasha Maslov)

Ceruzzi’s $272M loan on Lipstick Building ground lease goes to special servicing

The coronavirus-fueled economic fallout has pushed countless hotel and retail property loans into special servicing. But one of the...

Ceruzzi’s $272M loan on Lipstick Building ground lease goes to special servicing
Mall of America in Minnesota (Farragutful via Wikipedia)

Mall of America falls behind on $1.4B mortgage

The country’s largest shopping mall has reportedly fallen behind on its $1.4 billion mortgage, posing a threat to the...

Mall of America falls behind on $1.4B mortgage
Hudson’s Bay CEO Richard Baker (Credit: Getty; iStock)

“Corporate shell game”: Special servicer says Hudson’s Bay undermined $850M loan

The special servicer for an $850 million CMBS deal has accused Hudson’s Bay Company of engaging in a “clandestine...

“Corporate shell game”: Special servicer says Hudson’s Bay undermined $850M loan
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