Wednesday, April 7, 2010 as of 11:14 AM ET
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P. Morgan Chase & Co. (JPM) plans to sell $159.5 million of commercial mortgage-backed securities supported by distressed hotel loans next week in the second deal aimed at the rapid resolution of bubble-era real estate assets, according to a term sheet sent to investors.The CMBS to help fund loan acquisitions by units of Square Mile Capital and the Blackstone Group follows a $132 million deal in March, which helped fund the purchase of troubled debt for Rialto Capital Management.The CMBS are similar to securities used to dispose of troubled assets after the savings-and-loan crisis. Beginning in 1992, the Resolution Trust Corp. began selling pools of bad debt carved up into bonds that helped the real estate rebound by clearing bank balance sheets.Several real estate funds have expressed interest using the CMBS model developed by J.P. Morgan to make a play for troubled assets held by the Federal Deposit Insurance Corp. and other institutions. The Square Mile-Blackstone CMBS will fund a...John Greenleaf talks about how the DoubleTree by Hilton is launching campaign to attract guests.
Weekend with Warren: Brandon Rees of the AFL-CIO on Warren Buffett's succession disclosure proposal.
Goldman Sachs Group Inc. (GS) will likely sell as much as $1.4 billion in commercial mortgage-backed securities next week, marking the biggest CMBS supported by a si...
Hilton Worldwide is ready to accelerate its expansion plans for China and could launch a brand targeted at Chinese travelers, as the owner of the iconic hotel chain ...
InterContinental Hotels Group PLC (IHG.LN) Monday said it's launching a new upscale hotel chain in China , as the world's biggest hotel operator by number of rooms s...
United Parcel Service and TNT Express to Create a Global Leader in the Logistics IndustryUnited Parcel Service and TNT Express Reach Agreement on Recommended All-Cas...
If you need help boosting your bottom line, relief may be closer than you realize. According to Cathy Donovan Wagner, a retail consultant with several decades of exp...
With March Madness in full swing, the importance of teamwork takes center stage.As critical as it is on the basketball court, it's just as important in the office, a...
Whether you're celebrating spring break as an actual student, or you're young in spirit, we can suggest six of the best credit card deals to help keep you from losin...
Intercontinental Hotel Groups CEO Richard Solomons on launching a new hotel brand aimed at wellness, plus his thoughts on global growth and expansion plans.
Choice Hotels International CEO Steve Joyce on the impact of unemployment and gas prices on the hotel industry.
A bankruptcy judge on Tuesday approved a settlement between the owner of several well-known luxury resorts and Marriott International Inc. (MAR) over damages that th...
J.P. Morgan Chase & Co. (JPM) plans to sell $159.5 million of commercial mortgage-backed securities supported by distressed hotel loans as soon as next week, accordi...
The bankruptcy court granted the owner of several well-known luxury resorts continued control over its case by giving the company until June 24 to exclusively file a...
Blackstone (NYSE:BX) has inked a deal to buy the underperforming Motel 6 chain from Accor for $1.9 billion as the French hotel company continues to cut debt and turn...
Dear Cashing In,I'm about a month into a job as a traveling salesperson for a national firm that manufactures farm equipment. I'm on the road about two weeks out of ...
How to Financially Survive Wedding SeasonWith summer right around the corner, wedding season is quickly approaching. According to the wedding planning site, The Knot...
Change Maryland Chairman Larry Hogan on the state’s decision to increase taxes on those making more than $100K.
Rob Palleschi, global head of DoubleTree, weighs in on company expansion plans.