Weekend Interview: Tracy Hadden Loh On The Crisis Of Cities And How CRE Can Regain Its Dynamism

May 12, 2023 / no comments

This series goes deep with some of the most compelling figures in commercial real estate: the deal-makers, the game-changers, the city-shapers and the larger-than-life personalities who keep CRE interesting.
A longtime researcher and academic focused on urbanism and real estate, Tracy Hadden Loh has been at the forefront of rethinking and reimagining how cities work during and after the pandemic era. A fellow at The Brookings Institute, Loh has authored a series of papers — on topics like breaking the urban doom loop, pushing past misperceptions of crime and the myths of office-to-residential conversions — that speak to the urban uncertainty of the moment, as well as…

Lender Moves To Foreclose On Margaritaville Times Square

May 12, 2023 / no comments

Two years after providing a $57M loan to the Margaritaville Resort Times Square, Arden Group is looking for more than its lost shaker of salt — it’s looking to force a sale of the property.
Arden Group, the mezzanine lender on the 170K SF hotel at 560 Seventh Ave., has initiated a UCC foreclosure on the Jimmy Buffett-branded resort, giving notice of a foreclosure auction set for July 10, The Real Deal reports. Sharif El-Gamal’s Soho Properties led the joint venture that developed the property, which defaulted on its payments in March, an unnamed source told TRD.
Arden’s November 2021 loan helped refinance the construction debt on the…