Former US Anbang Luxury Hotels Show Resilience, Capital One Backs Massive New Jersey Apartment Acquisition, Retail Loan Payoff Nixes Need for COVID Relief

Resilience at Former Anbang Hotels: China may have declared Anbang Insurance Group insolvent in 2018 when it took over the company, but many of Anbang's U.S. hotel holdings have proved financially stable — even during the COVID-19 downturn. One of Anbang’s former luxury resorts recently received favorable refinancing, just like nine other properties did late last month. Bank of America Merrill Lynch is taking a $340 million loan on the Montage Resort & Spa Laguna Beach, a 258-key, full-service hotel in Laguna Beach, California, to market with a new CMBS offering.