Eagle Quest Properties

As the commercial real estate market continues its downward decline, a new Fitch Ratings report indicates that large hotels lead loans of concern for U.S. CMBS with eight newly defaulted loans greater than $100 million entering special servicing, according to Fitch’s ‘What’s in Special Servicing’ U.S. CMBS report.

Recent defaults include two hotel portfolios: Red Roof Inn and Extended Stay. Since Fitch’s last update in April, $17.4 billion in Fitch-rated loans have entered special servicing, which does not include the Extended Stay Portfolio, which on its own totals more than $4 billion.

via Fitch Ratings: Large Hotels Defaulting on Loans at High Rate.