Triggered by CMBS Maturities and Variable-Rate Mortgages

Third Wave of Hotel CRE Defaults Has Started, Triggered by CMBS Maturities and Variable-Rate Mortgages

by Wolf Richter, Wolf Street: CMBS holders are on the hook, not banks. Investors in hotel REITs have gotten totally crushed. The financialization of everything has let to a convoluted setup for hotels and their beaten-up investors at all levels. It goes something like this: The hotel properties are held by a publicly traded hotel […]