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Hyatt Regency Loan Crisis Looms | Real Estate News
A $100 million loan for the Hyatt Regency in Jersey City is heading toward default next month, as owners Taconic Capital Advisors and HEI Hotels & Resorts lack the funds to repay. The debt, issued a decade ago when cash flow was healthy, has struggled since — hitting negative cash flow this year and falling short of last year’s projected earnings. Taconic, now shifting focus away from commercial real estate back to its core investments, appears to be exiting the sector entirely. While Morningstar Credit Analytics hints at possible forbearance or extension, the immediate outlook remains grim —…
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