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Lenders Looking to Sell Troubled Lodging Assets

Back in January, RevPAR International launched its L3 Services platform to aid lenders, lawyers and loan servicers in dealing with troubled hotel assets.…

By Maria Wood - Editor of GlobeSt.com's New Jersey region and Real Estate New Jersey. | Updated on December 09, 2011

Back in January, RevPAR International launched its L3 Services platform to aid lenders, lawyers and loan servicers in dealing with troubled hotel assets. In recent months, Richard E. Pastorino, principal of the Vienna, VA- based advisory firm, has a seen a “meaningful” upswing in assignments, mostly related to the debt side.

“It is an indication to us, based on the nature of the work we were doing, that lenders have decided to move forward and start to clean up what they had been putting off for some time.” In other words, after months of sitting on the sidelines, lenders may be gearing up to resolve-in some fashion-the troubled hotel assets they have on their books.

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