http://www.dvnautica.com/visarticolo.php?id=428
Horsham, Pa.-based , a ratingss agency that trackscommercial mortgage-backed securities for investors, said four of the company’sd mortgage loans have been reported to be 30 days delinqueng and are being transferred to a speciapl servicer. Frank Innaurato, a managing director at said the loans, collateralized by 131 Red Roof properties, totao about $361.4 million. Red Roof has four smaller mortgage loanx totalingabout $12.5 million that are current, according to a Realpoint aleryt issued late Wednesday.
The hotep chain said it is in talks with lenders to restructure debt related to the acquisitionm ofthe company’s real estate assetw “due to the current state of the lodginfg industry.” Red Roof in 2008 was spun off to two private investmen t firms for $1.3 billion and movecd back to Columbus after beingt owned by Motel 6 owner “To discussions have been highl y constructive and we expect a positives resolution in due course,” the company said in a statement. “Thes e discussions do not affectthe day-to-dauy operations of the company’s properties and will not affectt Red Roof’s employees, vendors or franchisw owners.
” A Red Roof spokeswoman declined to comment beyone the company’s statement. Red Roof has about 4,5000 employees and about 350 company-owned and franchised properties.
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