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Re: CLNC not terrible - sold hotel - (edit) may not be the NYC troubled hotel No. CLNC owns loand to the NY hotel group. Loans are in default and CLNC took bad debt provisions on them. According to recent article, CLNC trying to sell the loans. Alternative is to foreclose and take title to hotel (which is on leased land). Only then can they sell the hotel. |
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