Jun
09
2009
Death of “Corporate Cool” W Hotel San Diego
Posted by: in Mortgage Loan News, tags: Compromise, Estate Investment Trust, Excerpt, Hotel Investors Inc, Hotel Market, Hotel San Diego, Hotels, Lenders, Luxury Hotel, Mortgage, News Sources, Real Estate Investment, Real Estate Investment Trust, S 65, San Diego News, Sunstone Hotel Investors, Sunstone Hotel Investors Inc, W Hotel San Diego
News Sources wrote an interesting post today on
Here’s a quick excerpt
Death of “Corporate Cool” W Hotel San Diego Sunstone Hotel Investors Inc. intends to forfeit the 258-room W San Diego to its lenders after its efforts to reach a compromise on the luxury hotel’s $65 million securitized mortgage failed. Sunstone, a real-estate investment trust that owns 43 hotels, bought the W for $96 million in 2006 from a group led by developer Gatehouse Capital Corp. Since then, the slumping performance of the W San Diego and the broader hotel market has made supporting th
Here’s a quick excerpt
Death of “Corporate Cool” W Hotel San Diego Sunstone Hotel Investors Inc. intends to forfeit the 258-room W San Diego to its lenders after its efforts to reach a compromise on the luxury hotel’s $65 million securitized mortgage failed. Sunstone, a real-estate investment trust that owns 43 hotels, bought the W for $96 million in 2006 from a group led by developer Gatehouse Capital Corp. Since then, the slumping performance of the W San Diego and the broader hotel market has made supporting th
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