Investors Waiting to Grab Hotels that Come Under Pressure
NEW YORK CITY-As more and more owners are facing problems with refinancing, more properties are coming to the market.
By GlobeSt News Hub|December 14, 2010 at 01:01 AM
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NEW YORK CITY-As more and more owners are facing problems with refinancing, more properties are coming to the market. The CNL Hotels & Resorts Inc. properties possessed by a Morgan Stanley fund are facing a debt of $1 billion that is coming due on February 1.
Other properties, including Kerzner International Resorts Inc.’s Atlantis resort complex situated in the Bahamas, the 787-room Hotel Del Coronado property and the 130-hotel portfolio of Tharaldson Lodging Cos., may be up for grabs too. For the full story, go to Wall Street Journal.
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