Guggenheim ousts Bank of America as mortgage funds take control

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.

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3d rendering of a row of luxury townhouses along a street

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