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Starwood Capital plans to refinance extended-stay hotel debt via CMBS

Oct 21, 2020 - National Mortgage News

Private investment firm Starwood Capital Group Global is tapping the commercial mortgage-backed securities market to refinance debt on a portfolio of 58 extended-stay hotels, as well as the construction costs of several recently built hotel properties.

According to ratings agency presale reports, Starwood of Greenwich, Conn., is securitizing a $265 million, two-year loan (with three one-year extension options) from Goldman Sachs that refinances $190.2 million in existing debt as well as $4...