Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Singapore-listed Eagle Hospitality Trust is holding a stalking-horse auction in May for a portfolio of 15 US hotels with a floor price of $470 million. Madison Phoenix LLC, an affiliate of Monarch Alternative Capital LP will purchase the portfolio if a better offer is not received in the auction.

Stalking-horse auctions are a routine part of many Chapter 11 bankruptcies, but for investors that have been waiting for distressed assets to come to market, this news was extraordinary.

Namely, the portfolio was one of the largest collection of distressed assets to come to market since the start of the pandemic. In fact, to date opportunities in distress investing have been sparse.

Erika Morphy


GlobeSt Net Lease Fall 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.