When Colony Capital revealed in May that it was in discussions with lenders after having defaulted on $3.2 billion in hotel loans, the Tom Barrack-led firm cautioned “there can be no assurances that the company will be successful in such negotiations.” In fact, at the time the Los Angeles-based investment firm had already defaulted on a forbearance agreement following earlier negotiations with one lender. Now, Colony is in jeopardy of losing control of its two
source https://therealdeal.com/2020/07/14/colony-capital-may-lose-control-of-2-largest-cmbs-hotel-portfolios/
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