Morningstar Credit
Blackstone, Hudson Pacific Secure 15-Month Extension on $1.1B Hollywood Studio Loan Anchored by Netflix
Lenders on the Blackstone and Hudson Pacific Properties Hollywood studio-and-office portfolio have finalized a loan modification that buys the sponsors 15 more months,...
West Covina and El Cajon Malls Anchor $437MM Starwood Portfolio Back in Special Servicing
The Starwood Regional Mall Portfolio, whose Southern California holdings include Plaza West Covina in the San Gabriel Valley and Parkway Plaza in El...
Residence Inn LAX Appraisal Plunges 45% to $45.5MM as 231-Key Hotel Heads Toward Note Sale
A fresh $45.5 million valuation on the 231-key Residence Inn by Marriott near Los Angeles International Airport has wiped out nearly half the...
Sixty Collective’s $37MM Beverly Hills Hotel Loan Returns to Special Servicing After Missed August Maturity
The Pomeranc brothers' Sixty Collective missed an August maturity date on its $40 million loan against the 118-room Sixty Beverly Hills, sending the...
Hudson Pacific, Blackstone’s $1.1B Hollywood Studio Loan Lands in Special Servicing Ahead of Maturity
The $1.1 billion CMBS loan backing Hudson Pacific Properties and Blackstone's marquee Hollywood studio-and-office portfolio has been handed to a special servicer just...
Blackstone’s $195MM Tower at Burbank Loan Lands on CMBS Watchlist as Office Occupancy Slides to 73%
Morningstar Credit has flagged the $195 million loan on Blackstone's Tower at Burbank office property for occupancy erosion, as a signature entertainment-district tower...
Slatkin Brothers’ $280MM Loan on 327-Key Santa Monica Hotel Duo Lands in Special Servicing
The $280 million securitized mortgage backing Shutters on the Beach and Hotel Casa del Mar has been transferred to special servicer LNR Partners...
Jamison’s 600 Commonwealth Office Tower Lands Back in Special Servicing as $30.4MM Loan Races Toward Sale Closing in Los Angeles
A $30.4 million securitized loan backing the 333,000-square-foot 600 Commonwealth office tower in Los Angeles has returned to special servicing after a forbearance...
Pacific Retail JV Negotiates Workout as $309MM Loan on 2MM SQFT Lakewood Center Reaches June Maturity
Less than a year after acquiring Lakewood Center from Macerich for $332.1 million, the joint venture of Pacific Retail Capital Partners, Lyon Living...
Onni’s $384MM Wilshire Courtyard Loan Lands Back in Special Servicing as July Maturity Looms
The Miracle Mile office campus faces imminent default with cash flow covering barely a quarter of its debt service and the balloon payment...
Mayer, Hyatt Line Up $200MM Cash-Out Refi on Huntington Beach Oceanfront Resort
The proposed five-year, interest-only loan would retire $182 million in maturing debt and return more than $12 million in equity to ownership, signaling...
Cerberus Capital Faces Foreclosure on 476,000 SQFT Wedbush Center in Downtown Los Angeles After $135MM Default
The 22-story office tower at 1000 Wilshire Boulevard has lost 69 percent of its appraised value since 2018 as occupancy collapses and its...
