New York City hotels put strain on $3.1B in CMBS loans

More bad news for New York City’s hotels — and the loans they’re propping up — is on the horizon. More than 80 percent of hotels in the city that are backing CMBS loans, equivalent to $3.1 billion, are exhibiting signs of strain due to the coronavirus pandemic, more than the national average of 71 percent, the Financial Times reported, citing data from Trepp. Of those, 38 percent of hotels sit on a watchlist designed

source https://therealdeal.com/2020/11/12/new-york-city-hotels-put-strain-on-3-1b-in-cmbs-loans/