Taconic Capital Advisors nearing default at Jersey City Hyatt Regency
Taconic Capital Advisors is out of the commercial real estate game, but that doesn’t mean commercial real estate is done with the firm. A $100 million commercial mortgage-backed securities loan backed by the Hyatt Regency at 2 Exchange Place in Jersey City was transferred to special servicing, the Commercial Observer reported, citing a Morningstar Credit Analytics report. The reason given for the transfer was imminent maturity default; the debt matures next month. The 351-key hotel is co-owned by Taconic and HEI Hotels & Resorts, which joined together to purchase the property from Veris Residential and Hyatt Hotels for $117 million […]
This article originally appeared on The Real Deal. Click here to read the full story.
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