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Pimco fund walks away from 20 hotels carrying $240 million in debt

The portfolio, valued at $326 million when the debt was originated in 2017, was cut 16% to $272.8 million in a December appraisal.

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Pimco Fund Walks Away From 20 Hotels With $240 Million of Debt

Pimco Fund Walks Away From 20 Hotels With $240 Million of Debt
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United statesSan franciscoSan antonioSteven angelBloomberg businessweekPark hotels resorts incBrookfield asset management ltdAshford hospitality trust incPacific investment management coPimco commercial real estate debt fundBlackstone incPennsylvania public school employee retirement systemPacific investment managementBrookfield asset managementFulcrum hospitalityHospitality trust

Pimco Fund Walks Away From 20 Hotels With $240 Million of Debt

Pimco Fund Walks Away From 20 Hotels With $240 Million of Debt
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

San franciscoUnited statesSan antonioSteven angelPimco commercial real estate debt fundPark hotels resorts incPennsylvania public school employee retirement systemAshford hospitality trust incPacific investment management coBrookfield asset management ltdBlackstone incPacific investment managementBrookfield asset managementFulcrum hospitalityHospitality trustPark hotels