Texas hotelier Monty Bennett, whose companies own 130 properties across the country, said Saturday that he will return the loans provided under the Small Business Administration’s Paycheck Protection Program.
Lenders who are looking to finance the chain’s potential bankruptcy are having trouble finding enough assets to secure new loans.
The next year will likely flood oil markets like Houston and New Orleans with office sublet space. But some investors may benefit.
Bank headquarters housing thousands of staff might go out of fashion if people need to take the elevator only two at a time.
Hudson’s Bay has missed CMBS payments on part of its $696 million financing for Saks Fifth Avenue and other stores.
More than 26 million people have filed for unemployment in the five weeks since cities and state began to order non-essential businesses to close.
The U.K.-based real estate investors have bought a Fifth Ave. retail condo from SL Green for $170 million.
