Fort Lauderdale Hilton Facing ‘Imminent Default’
From South Florida Business Journal:
Owner May Be Seeking Fourth Extension on Loan
Blackstone Group’s $105 million commercial mortgage backed securities loan on the recently renovated, 579-room Hilton Fort Lauderdale Marina is now in the hands of a special servicer due to “imminent default.” However, observers are optimistic about the future of the hotel. Miami-based LNR Partners is the special servicer on the CMBS loan, according to a Fitch Ratings report on the hotel, which was previously the Fort Lauderdale Grande Hotel & Yacht Club. Fitch noted in its report that the loan was in “imminent default.”Click here for the full story.
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