Front-Row Look at Handing Back Keys; Beach Point Capital Lends on Times Square Hotel Development; Charlie Rose Podcast

Front-Row Look at Handing Back Keys; Beach Point Capital Lends on Times Square Hotel Development; Charlie Rose Podcast This week, we get a breakdown of the process when borrowers hand back keys to lenders on distressed loans. In other news: Times Square hotel project lands a $120 million construction loan, and San Francisco commercial real estate is cracking under multiple pressures. Inside the Room: How Handing Back the Keys to Commercial Real Estate Actually Works Amid generational office distress, Commercial Observer explains what happens in negotiations when borrowers hand back the keys to the lenders. [Read More](   Top Deals Of The Week   - Beach Point Capital Provides $120M Construction Loan on [Times Square]( Hotel Project - Camber Property Group CEO Details [$783M]( Financing for NYCHA’s Edenwald Houses - Invictus Real Estate Partners [Provides]( $62M for Brooklyn Mixed-Use Complex - Miami’s Fontainebleau [Scores]( $73M Construction Loan to Add Convention Center - MG [Lands]( $68M to Build Boutique Coral Gables Development - Dwight Provides $34M [HUD Loan]( on Mystic, Conn., Apartment Project - Knighthead Provides $16M Acquisition Loan to [Myrtle Beach]( Housing Conversion     People Moves   Newmark Snags Another Big Fish: Industry Vet Bill Fishel Jumps Firms Bill Fishel, longtime head of JLL’s L.A. office, has joined Newmark’s debt, equity and structured finance group [Read More]( JPMorgan Chase Hires Visa’s Vanessa Maren as Head of CRE Digital Business Vanessa Maren has joined JPMorgan Chase as head of commercial real estate digital business within the firm’s commercial banking division, Commercial Observer first reported. [Read More]( Petros Picks Up Pace With Hiring of Morgan Stanley’s Kevin Porter Petros PACE Finance hired Kevin Porter from Morgan Stanley as the lender’s first chief credit officer in a move aimed at solidifying itself as the nation’s largest provider of C-PACE loans, Commercial Observer first reported. [Read More]( Acore Adds Andrew Terry to Scale Insurance Business Acore Capital has hired Andrew Terry from asset management firm Schroders as a managing director to help expand the alternative lender’s capital markets business in the insurance industry. [Read More](   Other Stories From This Week   Navigating Turbulence: Invesco’s Charlie Rose Discusses Banking Crisis Impact on CRE In Commercial Observer's latest podcast episode, Charlie Rose of Invesco Real Estate unravels the complexities of the current financial landscape and opportunities that lie ahead in the commercial real estate market. [Read More]( San Francisco Leans Into AI and Conversions to Aid a Painful Recovery San Francisco’s commercial real estate distress reached earthquake levels in June, and the aftershocks may be felt well into the future. [Read More]( Margaritaville Resort Times Square Seeks Buffer From Foreclosure in Bankruptcy Filing The Margaritaville Resort Times Square Hotel developer, Sharif El-Gamal’s Soho Properties, filed for bankruptcy protection in a move that prevents a previous foreclosure sale slated for July 10 from moving forward. [Read More]( BH Properties Launches $1B Affordable Housing Investment Initiative The commercial real estate investment firm is entering the affordable housing marketplace for the first time. [Read More]( CMBS Delinquency at Highest Level Since 2021 The attraction of working from home or a remote location that’s not the office is showing signs of sticking around in the legal profession during the post-pandemic era. [Read More](     What We're Reading This Week   - China signals more economic aid after property [debt relief]( [Bloomberg] - Wave of rental resets to further [deplete]( affordable housing [WSJ] - Inflation rose just 0.2% in June, [less than expected]( as consumers get a break from price increases [CNBC]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Commercial Observer]( © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 07/13/2023