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Cantor Commercial Real Estate (CCRE) has reemerged from a near-five-year hiatus as a CMBS sponsor to become the first of 2016 with Cantor Commercial Real Estate CFCRE 2016-C3 Mortgage Trust.
CIM Group has reportedly sued Cantor Fitzgerald, alleging that the latter firm collected $37.3m in excess fees through Cantor Commercial Real Estate (CCRE), a top CMBS shop that the joint venture formed in 2010. Over the past year Cantor Fitzgerald used CCRE as “a vehicle for unauthorized self-dealing in flagrant disregard of its obligations” under an agreement binding the firms under Delaware law, CIM claimed in a lawsuit filed in Delaware state court.
Cantor Commercial Real Estate has provided a $33.3m loan to Ashford Hospitality Trust for the acquisition of the Marriott Memphis East in Memphis, Tennessee. The two-year floating rate loan carries a 77% loan-to-value based on the $43.5m that the REIT paid for the 232-room hotel earlier this year. The 10-story hotel underwent extensive renovations in 2012 when it was converted from a Holiday Inn Select to a full-service Marriott.
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