Guggenheim Structured Real Estate replaced Bank of America as the servicer on debt tied to hotel company MeriStar Hospitality as investors seek to gain control of loan restructurings amid surging defaults. The commercial mortgage fund operator, a unit of Guggenheim Partners which has more than $100bn in assets under supervision, took over management of the $284.5m loan two weeks ago, according to people familiar with the transaction.
0 minute readGuggenheim ousts Bank of America as mortgage funds take control
June 3, 2010, 2:30pm
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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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
