Hotels Face Challenges As Wave Of CMBS Maturities Nears

Law360, Minneapolis (March 1, 2016, 4:20 PM EST) -- Many of the commercial mortgage-backed securities loans made before the 2008 market meltdown are coming due this year and next, and lawyers say hotel borrowers in particular may have difficulty refinancing because of tighter underwriting standards and limited available capital for new hotel loans.

Hotels, which by definition don’t offer stabilized and predictable income streams, draw unique scrutiny from underwriters of CMBS loans when they are determining what interest rate to charge and how much leverage to offer.

New regulations on CMBS loans that go into effect at the end of this year will likely make it even harder and more...

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