Hotel Owners Work Hard to Avoid Foreclosures
From Bloomberg:
Workouts Reached for More Than Half of Troubled Loans
As $17.5 billion in securitized loans backed by U.S. hotels come due in the next two years, lenders are doing more to avoid foreclosure on lodging properties than on any other type of commercial real estate. Workout agreements have been reached on 53 percent of distressed hotel loans since the start of 2008, the highest among six commercial-property categories, according to data from Real Capital Analytics Inc. in New York. Click here for the full story.
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