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Distressed Hotel/residential Developments: 30 November 2010

 
By the HNN editorial staff
December 1, 2010 | 3:08 AM

Following are recent distressed hotel/residential developments.
Source: STR Analytics/HotelNewsNow.com research

Property              Location          Rooms  Debt                    Deal Size              Lender                     STR Analytics' take             
Viceroy Icon Brickell Miami 162 US$700,000,000 US$1,000,000,000 HSBC, Bank of America Restructured
Terranea Rancho Palos Verdes, California 550 US$290,000,000 US$480,000,000 Starwood Capital Group, Cascade Investment Capital infusion, restructured
W Boston Boston 235 US$192,000,000 US$230,000,000 Prudential Bankruptcy
Mansion on Peachtree Atlanta 127 US$187,500,000 US$190,000,000 iStar Financial, First Citizens Bank of Columbia Foreclosed upon
InterContinental Montelucia Scottsdale, Arizona 293 US$180,000,000 US$230,000,000 Eurohypo Foreclosed upon
Ritz-Carlton Highlands Lake Tahoe Truckee, California 173 US$157,000,000 US$300,000,000 Bank of America Bank of America assumed ownership
W Atlanta Downtown Atlanta 237 US$85,000,000 US$125,000,000 FDIC, Square Mile Capital Management Foreclosed upon
Se San Diego San Diego 184 US$73,000,000 US$150,000,000 WestLB Bankruptcy
W Scottsdale Scottsdale, Arizona 224 US$73,000,000 US$110,000,000 HSH Nordbank Restructured
Vail Plaza Vail, Colorado 138 US$70,000,000 US$200,000,000 Capmark Financial Group Sold via bankruptcy reorganization
Omphoy Ocean Resort Palm Beach, Florida 134 US$60,000,000 US$100,000,000 Stabfund (USA) Foreclosure
Ivy Minneapolis 136 US$56,000,000 US$88,000,000 Dougherty Funding Foreclosure