Hotels & hospitality

$79.3 Million Non-Performing CMBS Loan Portfolio

000 Various Various, New York United States
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Description

Jones Lang LaSalle (“JLL”) has been retained by the Seller, a CMBS Special Servicer, on an exclusive basis to arrange the sale of a $79.3 million non-performing loan portfolio (the “Loans” or “Portfolio”). The Portfolio includes six (6) first-lien mortgages and deeds of trust collateralized by Hospitality assets totaling 1,022 keys located across five (5) states. The Portfolio presents an opportunity to buy COVID-affected, non-performing hotel loans directly from the Special Servicer at scale. The Portfolio is comprised of 100% fixed-rate Loans, which carry a WA Coupon of 5.29% and have a WA Seasoning of 80 months. All Loans were structured with amortization, and 37.48% of the Portfolio by balance, has amortized 10% or more from its original balance. All Loans are currently non-performing as a direct result of COVID-19 disruption. The offering provides investors the opportunity to acquire a sizable Portfolio of currently distressed hotel loans with diversity in location, service type and loan size. The Seller will consider bids for (i) any individual Loan, (ii) any combination of Loans, or (iii) the Portfolio in its entirety.

Investment Highlights

  • CRITICAL MASS - The Portfolio provides a unique opportunity for investors to acquire a diverse set of non-performing loans secured by covid-affected hotel assets at scale, with the ability to proceed to enforce lender’s rights and remedies as seen fit.
  • COVID AFFECTED - The Loans performed Pre-COVID, which portends to a quicker recovery and return in performance levels upon vaccine rollout, national re-openings and continued rollback of COVID restrictions. The portfolio had a Pre-COVID Debt Yield of 11.8% and DSCR of 1.51x.
  • ATTRACTIVE BASIS - The Portfolio’s unpaid principal balance sits at an attractive basis of $77,605 per key, with 33.2% of the Portfolio by balance below $75,000 per key.
  • ACCELERATING LOANS - 59.6% of the Portfolio is listed as 90+ Days Past Due, followed by 40.4%, which is over 60 Days Past Due.
Last Updated Date: 14 Apr 2021
Sean Ryan
Sean Ryan
Managing Director, Capital Markets
Tom Hall
Tom Hall
Managing Director, Capital Markets

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+902129008658
Last Updated Date: 14 Apr 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.