X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUCSON-Signature Properties International, a Toronto-based developer, is trying to rework its $165 million mortgage taken on J.W. Marriott Star Pass resort situated near Tucson.

The developer failed to make the latest payment on the $165 million mortgage on the 575-room resort at the scheduled time. The developer is currently in negotiation with its special servicer, KeyCorp, to modify and extend the first $78 million mortgage. KeyCorp had rejected Signature Properties’ previous bid to modify and extend the mortgage.For the full story, go to Wall Street Journal.


GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.