National
Starwood wheels and deals to fix $800M loan default
In November, Barry Sternlicht touted Starwood Property Trust’s stash of dry powder and the strength of its hotel business....
distressed debt
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National
Struggling with $481M loan, Joe Chetrit looks to sell national portfolio
Despite the supercharged rents and record-low vacancy rates of last year’s multifamily market, some developers couldn’t escape the squeeze...
National
Distressed investors tap throwback strategy, target CMBS
Distressed real estate investors, short on troubled properties, have turned to a crisis-era favorite to suss out potential deals:...
Torchlight buys $40M delinquent Fifth Avenue retail loan
New York’s much-anticipated distressed deals could finally be starting to appear. The Canadian bank CIBC sold a delinquent $40...
National
Cerberus raises nearly $3B for new real estate fund
Cerberus Capital Management has raised about $2.8 billion for a new real estate fund — exceeding its target of...
National
What distress? Dry powder piles up with few discounts in sight
After raising billions of dollars to spend on commercial real estate, distress investors are having a difficult time spending...
National
What appraisal reductions mean for future losses on CMBS loans
As delinquency rates for commercial mortgage-backed securities settle into a new normal after early pandemic chaos, other market metrics...
HFZ sues CIM to halt condo foreclosure sale
UPDATED, Nov. 12, 2020, 2:28 p.m.: HFZ Capital Group is making a last-ditch attempt to stop its lender from auctioning off loans tied to four of the firm’s Manhattan condo projects. The prolific developer...
HFZ sued over delinquent loans at Upper East Side project
HFZ Capital Group continues to have trouble meeting its debt obligations. The lender at HFZ’s planned project on Manhattan’s...
National
JV looks to buy up to $175M in distressed resi loans, with focus on NY, Miami
As an increasing number of borrowers skip their mortgage payments, opportunistic investors have been on the lookout for distressed...