Distressed US Commercial Real Estate Lost 27 Pct Of Value, Wells Fargo Data Shows
PYMNTS
SEPTEMBER 27, 2020
For example, the value of a Crowne Plaza hotel in Houston fell by 46 percent compared to six years ago. In another case, the Holiday Inn La Mirada, near Los Angeles, was recently valued at $22 million — a 27 percent dive from 2015. The newspaper reported the hotel has not made a mortgage payment since March.
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