COVID hospitality: Two Silicon Valley hotels head for auction block and foreclosure

Hotels in Mountain View, Sunnyvale face seizure through loan foreclosure https://www.eastbaytimes.com/2021/04/26/covid-real-estate-two-silicon-valley-hotels-auction-foreclosure/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: April 26, 2021 at 5:45 a.m. | UPDATED: April 27, 2021 at 6:46 a.m. SUNNYVALE — Two Silicon Valley hotels are headed for the auction block and foreclosure, fresh evidence that economic ailments unleashed by the coronavirus still sicken the...

Gov. Newsom’s Economic Reopening Announcement Isn’t The Defining Moment CRE Needs

https://www.bisnow.com/san-francisco/news/commercial-real-estate/california-june-reopening-might-mean-choppy-waters-ahead-108468 April 9, 2021 Bianca Barragán and Jacob Bourne After having the physical and social scope of their lives drastically diminished for over a year, Gov. Gavin Newsom’s announcement that the state may undergo a full economic reopening on June 15 could signal to Californians that it is time to celebrate. For commercial real estate, that could manifest...

Wave Of Distress Missing LA Hotels To The Delight Of Value-Add And Redevelopment Projects

https://www.bisnow.com/los-angeles/news/hotel/los-angeles-hotels-pandemic-rebound-108471 April 9, 2021 Bianca Barragán, Bisnow Southern California  The team marketing the Mart South hotel redevelopment in Downtown LA’s Fashion District noticed earlier this year that there was a big increase in interest in the property, a former office building entitled for hotel conversion. In fall 2020, the property was averaging about three inquiries a month, but...