CMBS Loan Backed By 1,000-Key LAX Marriott on Servicer Watchlist – Commercial Observer
A $130.1 million commercial mortgage-backed securities (CMBS) hotel loan backed by the 1,004-room Los Angeles Airport Marriott is on its servicer’s watchlist after a drop in debt service coverage ratio, according to an alert from Trepp. The rate decreased mainly because of higher operating and capital costs, as well as increases in departmental room expenses