May 11, 2024
Loans

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

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Mortgage

Hilton hotel in San Francisco defaults on its mortgage as 544-room facility where a nights stay cost $166 misses $97million loan payments in growing ‘doom loop’ for liberal city

By Claudia Aoraha, Senior Reporter For Dailymail.Com 17:40 14 Jan 2024, updated 17:46 14 Jan 2024 The Hilton Financial District reported $11.1 million in revenue in the third quarter of 2023, down from $12.3 million a year prior The city’s hospitality sector is faltering alongside the rise in crime , homelessness , and public drug

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