St. Regis Bal Harbour $188M CMBS loan heads to special servicing
Facing a maturity date next month, a $188 million commercial mortgage-backed securities loan tied to the St. Regis Bal Harbour Resort is being transferred to special servicing, according to Morningstar. The move comes despite the hotel’s owner, Qatari firm Al Rayyan Tourism Investment Company (ARTIC), being current on the mortgage and having an option to extend the maturity date. The property is at 9703 Collins Avenue in Bal Harbour. The lender, San Francisco-based Column, is reviewing a request by Al Rayyan, led by CEO Tarek El Sayed, for an extension, Morningstar states. Though Al Rayyan maintained an above breakeven debt service coverage ratio, its 2024 net cash flow […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
North Palm Beach town center redevelopment tied up in lawsuits
Michael Stern sells interest in Miami Beach condos to majority owner Activate Hospitality
SJC sells Whole Foods complex for $83M amid investor appetite for grocery-anchored real estate
Prominent trial attorney finds buyer for waterfront Boca mansion once owned by Sheetz magnate
South Florida’s top deals: OKO, Cain sell Una Brickell penthouse for $18M
Advertising Real Estate-Related Products and Services
FCC Update on Drones with LiDAR Obstacle Avoidance
Appeals Court Quashes Homie Appeal, Delivers NAR VictoryAppeals Court Quashes Homie Appeal, Delivers NAR Victory
RE Q&A: Should I Add My Daughter’s Name to My House Deed to Avoid Probate Costs?
Solar Panels – Questions to Ask Before Contract
