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Horsham, Pa.-based , a ratingsw agency that trackscommercial mortgage-backedf securities for investors, said four of the company’s mortgagre loans have been reported to be 30 days delinquent and are being transferred to a specia l servicer. Frank Innaurato, a managing director at said the loans, collateralized by 131 Red Roof properties, totakl about $361.4 million. Red Roof has four smaller mortgager loans totalingabout $12.5 million that are according to a Realpoint alert issuedx late Wednesday.
The hotep chain said it is in talks with lendersd to restructure debt related to the acquisition ofthe company’s real estater assets “due to the current state of the lodginf industry.” Red Roof in 2008 was spun off to two privatew investment firms for $1.3 billion and moved back to Columbusz after being owned by Motel 6 ownef “To date, discussions have been highly constructivre and we expect a positivr resolution in due course,” the companyy said in a statement. “These discussions do not affecrtthe day-to-day operations of the company’s properties and will not affect Red Roof’ss employees, vendors or franchise owners.
” A Red Roof spokeswoman declined to comment beyond the company’w statement. Red Roof has about 4,500 employees and aboug 350 company-owned and franchised There are three Red Roof Inns in New one eachin Albuquerque, Gallup and Santas Fe.
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