Alternative lenders provide opportunities for various public and private investors to invest in commercial real estate debt.

Hedge fund Axonic Capital and startup Metamorphosis Hotel Capital Partners are picking apart CMBS as they hunt for bargains.

The loss is the largest loss in both dollar amount and percent of original loan balance for a CMBS loan since the 2008 crisis.

“You have investors like sovereign wealth funds coming in and taking the entire stack,” says one industry insider.

About a third of all of this year’s CMBS loans tied to single properties helped finance class-A office towers in urban centers.

About $4 billion in value was erased from 118 retail-anchored properties with CMBS debt after reappraisals.

The pandemic helped push about $146 billion of commercial real estate into distress or serious risk of bankruptcy last year, according to Real Capital Analytics.

The mall formerly known as the Fashion Outlets of Las Vegas was auctioned off this week for $1.525 million.

By December, the city’s apartment investors were behind on $395 million in debt backed by mortgage bonds.

Columbia Sussex Group is in foreclosure on three hotels and is prepared to surrender two others to the lender.