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  • The collapse of San Fran has just gotten worse

    From ScottW@21:1/5 to All on Tue Jun 6 20:53:53 2023
    Thomas J. Baltimore, Jr., Chairman and CEO of Park Hotels & Resorts, announced Monday that it was going to stop payments on a $725 million commercial mortgage-backed securities (CMBS) loan that is secured by the Hilton Union Square and the Parc 55.

    Just FYI, there are quite a few trillions invested in CMBS.

    https://www.statista.com/statistics/942195/volume-cmbs-originations-usa/

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to ScottW on Tue Jun 6 20:59:48 2023
    On Tuesday, June 6, 2023 at 11:53:54 PM UTC-4, ScottW wrote:
    Thomas J. Baltimore, Jr., Chairman and CEO of Park Hotels & Resorts, announced Monday that it was going to stop payments on a $725 million commercial mortgage-backed securities (CMBS) loan that is secured by the Hilton Union Square and the Parc 55.

    Just FYI, there are quite a few trillions invested in CMBS.

    https://www.statista.com/statistics/942195/volume-cmbs-originations-usa/

    ScottW

    When do the squatters move in?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)