New Details on Lone Star’s Marriott Buy, RXR Refinances The Helmsley, CMBS Investors Watch CVS Closings

Offering Sheds Light on Lone Star’s Marriott Deal: A new commercial mortgage-backed securities offering that priced late in November sheds details on a hotel portfolio purchase by Lone Star Funds’ latest real estate fund. The $4.6 billion fund acquired five Marriott-branded hotels containing more than 2,300 rooms from Host Hotels & Resorts for about $551 million. JPMorgan Chase Bank provided a $419.43 million loan to finance the purchase. The loan is collateral backing J.P. Morgan Chase Commercial Mortgage Securities Trust 2021-HTL5. It has an initial term of two years, with three one-year extension options, and calls for monthly interest-only payments during the entire loan term, according to CMBS deal analysis by Moody’s Investors Service.