Eagle Hospitality Avoids Foreclosure, Reaches Compromise With Blackstone

The Wall Street Journal reported this week that Eagle Hospitality Trust and Blackstone Group struck a deal to avoid foreclosure on 13 upscale U.S. hotels.  Eagle owns the 13 properties, which include the Cincinnati Landmark Marriott, and Blackstone holds the debt. Rather than proceed with foreclosure, Blackstone has agreed to accept an undisclosed amount as […]

Five Strategies for Special Servicer Negotiations: How to avoid the most common stumbling blocks

Whether you are a borrower, a B-piece holder or a foreclosing mezzanine lender, at some point you have found yourself in the unenviable position of dealing with a special servicer. By gaining insight into what motivates special servicers, you will solidify your negotiation strategy and better understand how to avoid a few common pitfalls. In […]

Residential Foreclosures Up 2% in New York

Bloomberg reports that the foreclosure backlog is increasing in states like New York, New Jersey and Connecticut, where foreclosures are required to pass through the court system, while the pipeline is shrinking in states that allow foreclosure by public sale, such as Arizona, California and Nevada.

Hotel Lenders Avoid Foreclosures

Bloomberg reports that lenders are doing more to avoid foreclosing on loans secured by hotel assets than any other other type of commercial real estate, as $17.5 billion in securitized hotel loans come due in the next two years in the U.S. Since the start of 2008, 53% of distressed hotel loans have been worked […]