0 minute readExtended Stay, the hotel chain, filed a plan to exit bankruptcy after accepting an investment proposal from Centerbridge Partners, Paulson & Co. and the Blackstone Group. The restructuring plan, filed last night in US Bankruptcy Court in Manhattan, calls for the investor group to take control of Extended Stay’s 666 properties in exchange for a $3.9bn investment that will pay down the company’s $4.1bn mortgage debt.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio