A growing number of borrowers are throwing in the towels and walking away from distressed CMBS loans in cases where equity has been completely washed away. That distress is particularly acute in lodging and retail with the volume of loans that have moved to special servicing for August at 25.0 percent and 17.3 percent respectively, according to Trepp. Examples include some of the biggest names in real estate and major assets within CMBS conduits. Bloomberg recently reported that some of the entities controlled by Blackstone Group Inc., Brookfield Property Partners L.P., Starwood Capital Group and Colony Capital Inc. are among those handing back keys on some struggling assets—even as they continue to rake in millions in new fundraising." https://lnkd.in/dWVqEjM