Le Journal des Palaces

< Actualité précédente Actualité suivante >

Lodgian Provides Further Update on Remaining Maturing Mortgage Debt

Lodgian Provides Further Update on Remaining Maturing Mortgage Debt

Catégorie : Monde
Ceci est un communiqué de presse sélectionné par notre comité éditorial et mis en ligne gratuitement le 08-07-2009


Obtains 30-day extension on mortgage pool, continues negotiations for longer-term solution

Lodgian, Inc. (NYSE Alternext US: LGN), one of the nation's largest independent hotel owners and operators, today announced that the company has obtained an extension of the maturity date for the Merrill Lynch Fixed Rate Pool #3 ("Pool #3"). As of July 1, 2009, the principal amount of Pool #3 was $45.7 million. The company and the special servicer for Pool #3 have entered into an extension agreement to extend the maturity date of this indebtedness until August 1, 2009. Given the extension of the maturity date, the company is not in default of the original loan. The company paid no extension fee in connection with this short-term extension. The 30-day extension is intended to provide the parties an opportunity to reach an agreement on a longer-term maturity extension.

The company and the special servicer are currently negotiating a longer-term maturity extension for Pool #3; however, the company can provide no assurances that the parties will reach such an agreement. In the event that the company is unable to achieve a long-term extension of Pool #3, the company expects that anticipated cash flow from the hotels securing Pool #3 may not be sufficient to meet the related debt service obligations and it may be necessary to transfer the properties securing this indebtedness to the lender in satisfaction of the company's obligations.

A schedule indicating the principal balance of Pool #3, as of July 1, 2009, as well as a listing of the hotels that serve as collateral under Pool #3, is attached as an exhibit to this press release.



Vous aimerez aussi lire...







< Actualité précédente Actualité suivante >




Retrouvez-nous sur Facebook Suivez-nous sur LinkedIn Suivez-nous sur Instragram Suivez-nous sur Youtube Flux RSS des actualités



Questions

Bonjour et bienvenue au Journal des Palaces

Vous êtes en charge des relations presse ?
Cliquez ici

Vous êtes candidat ?
Consultez nos questions réponses ici !

Vous êtes recruteur ?
Consultez nos questions réponses ici !