CMBS Foreclosures Start Rising As Hotel Defaults Break 50% In Some Cities

The market for commercial mortgage-backed securities, particularly hotels and retail, continues to worsen with no sign of an imminent turnaround.

The September edition of CMBS analysis firm Trepp’s monthly report found that 26% of hotel-backed CMBS loans are in special servicing, while the same is true for 18.3% of CMBS loans tied to commercial retail properties. Both sectors’ special servicing rates are the highest on record, while industrial, office and multifamily all have below 3% of their CMBS loans in special servicing.

Luxury hotels in major cities seem to be the hardest-hit subsection of the hospitality industry because they are more dependent on business travel and large events that remain all but nonexistent across the country.

Hotels in Houston, which has also been hurt by the oil industry’s struggles, hit a 69% delinquency rate in September, according to Trepp data obtained by Commercial Mortgage Alert. Just over 50% of Chicago’s

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Properties for sale now that could start you in your own business

Video: Tower crane removed from hotel development in Liverpool city centre (Liverpool Echo)

Tower crane removed from hotel development in Liverpool city centre

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If you have ever dreamed of owning your own business or are looking to expand, there are several properties on the market waiting to get snapped up.

From cafes, to pubs and hotels there’s plenty out there for buyers looking to get started.

Some of the properties could need a fix-up, but they have plenty of potential for prospective business owners.

Here we take a look through some of the commercial properties advertised on RightMove at the moment.

Dukes Pub, Wallasey

This pub, formerly Dukes in Wallasey, is on the market with a beer garden.

Located on Seaview Road, the property has a lounge, bar and dining space big enough for 100 covers.



a building that has a sign on the side of the street: A pub in Wallasey is listed on the market for buyers


© Right Move
A pub in Wallasey is listed

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Longtime friends start real estate business in Palm Beach Gardens


Professional Real Estate Advisors offers comprehensive professional and legal services focused solely on the real estate industry.

Jodie Wagner
 
| Palm Beach Post

PALM BEACH GARDENS — While not an ideal time to launch a new business amid a global pandemic, longtime friends Steve Mathison and Charles Siebrecht forged ahead with it anyway.

The South Florida natives, along with partner Brig Edwards, opened Professional Real Estate Advisors over the summer.

The Palm Beach Gardens-based business offers comprehensive professional and legal services focused solely on the real estate industry.

More: Here’s the latest on Avenir, Gardens’ sprawling new development out west

More: Construction set to begin on apartment complex with workforce housing on PGA Boulevard

The business is unique to the South Florida real estate market, said Siebrecht, serving as a one-stop shop for companies, individuals and real estate agents.

“We have decades of experience in the real estate market on

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Longtime friends start new business in Gardens



Rasmus Hansson, Bruno Wolkowitch posing for a photo: Steven Mathison, Brig Edwards and Charles Siebrecht (L to R) recently launched Professional Real Estate Advisors, a Palm Beach Gardens company that offers comprehensive professional and legal services focused solely on the real estate industry.


© [Courtesy of Professional Real Estate Advisors]
Steven Mathison, Brig Edwards and Charles Siebrecht (L to R) recently launched Professional Real Estate Advisors, a Palm Beach Gardens company that offers comprehensive professional and legal services focused solely on the real estate industry.

PALM BEACH GARDENS — While not an ideal time to launch a new business amid a global pandemic, longtime friends Steve Mathison and Charles Siebrecht forged ahead with it anyway.

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The South Florida natives, along with partner Brig Edwards, opened Professional Real Estate Advisors over the summer.

The Palm Beach Gardens-based business offers comprehensive professional and legal services focused solely on the real estate industry.

More: Here’s the latest on Avenir, Gardens’ sprawling new development out west

More: Construction set to begin on apartment complex with workforce housing on PGA Boulevard

The business is unique to the South Florida real estate market, said Siebrecht, serving as

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Black Americans are leaving their homes to start their own all-Black communities

This report is part of “Turning Point,” a groundbreaking series by ABC News examining the racial reckoning sweeping the United States and exploring whether it can lead to lasting reconciliation.

For now, the small parcel of land known as Freedom, Georgia, is just a campground on red clay under the hot sun. But for the Black Americans who are moving here, it’s a dream.

So far, about 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south of Atlanta. It’s their escape, they said, from the everyday racism that feels like a part of life in the United States.

PHOTO: About 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south of Atlanta to establish Freedom, Georgia.

About 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south

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