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Brookfield Supports Loan Rework for Hotel REIT swfinstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swfinstitute.org Daily Mail and Mail on Sunday newspapers.
ADVERTISEMENT Hotel REIT Hits Ch. 11 In Del. For $1.3B Debt Rework Law360 (May 19, 2021, 10:27 AM EDT) A hotel industry real estate investment trust hit hard by pandemic-related travel drop-offs sought Chapter 11 protection in Delaware on Wednesday with a prepackaged plan that will restructure the 100-hotel venture s $1.3 billion unsecured debt, largely through a replacement equity issue. Hotel industry REIT Hospitality Investors Trust filed for Chapter 11 bankruptcy protection in Delaware on Wednesday. (iStock.com/ChrisBoswell) According to initial court filings, Hospitality Investors Trust Inc. and its affiliated operating partnership intend to seek bankruptcy confirmations for its plan by June 23 and emerge from bankruptcy before June 30. ....
. Brookfield Asset Management (NYSE: BAM) is nearing a deal with private, non-traded REIT, or real estate investment trust, Hospitality Investors Trust that would give it control of the hotel owner. The prepackaged bankruptcy would see Brookfield inject additional liquidity into the company as part of a deal to convert its preferred equity into a 43% common equity interest in the REIT. It would give Brookfield control over roughly 100 hotels managed by top brands, mainly in markets in the Southeast. A tough time for hotels The pandemic hit the hospitality sector hard. Travel restrictions and reduced business travel has weighed on hotel occupancy over the past year. That s caused most hotels to burn through cash. ....
Brookfield to Buy Hotel Operator Hospitality Investors Trust therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Hotel REIT Preps Deal to Give Brookfield Control in Bankruptcy wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.