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There's more than $10 billion waiting to pounce on the ailing real-estate sector. A $80 million mortgage sale for a Brooklyn hotel could be one of the first hospitality opportunities.
Benefit Street Partners is attempting to selling $80 million of distressed debt it holds against the...Benefit Street Partners is attempting to selling $80 million of distressed debt it holds against the Williamsburg Hotel in Brooklyn. The sales effort is one of the first signs that lenders of souring hotel property debt could seek to part with troubled loans, handing them off, potentially at a discount, to opportunistic buyers. Hotel occupancy and room rates have fallen precipitously amid the coronavirus...