The Property Ticker

Research evidence excerpt

The Property Ticker

inus’s broader expansion in UK hotels

through joint ventures and development, including Ibex House in the City of London,

acquired with Cheyne Capital in December 2025 and earmarked for a 382-room full-

service hotel. Following the opening of The Derby London City, Curio Collection by

Hilton, the group now operates more than 1,000 hotel rooms, with a further 1,700 in the

London pipeline. For Millemont, the purchase adds to a growing UK hotel portfolio after

recent acquisitions of the Crowne Plaza Marlow, Crowne Plaza Reading and Yotel

Edinburgh. (Source: CoStar)

• Troubled mall loan may signal end to ‘extend and pretend’: Real estate brokerage

Newmark is trying to sell a $430m troubled loan tied to one of the country’s largest malls,

an offering that could help accelerate a broader shift in how the commercial real estate

industry handles distressed debt. The offering comes amid mounting evidence that

servicers across the commercial mortgage-backed securities market are abandoning what

are known as patient loan workout strategies. A 2014 loan backed by Destiny USA in

Syracuse, New York, is emerging as a symbol of a recent move away from years of

‘extend and pretend’. The phrase became shorthand for the common post-pandemic

practice of repeatedly modifying real estate loans, typically extending payment dates

well into the future, rather than forcing losses. (Source: CoStar)

• Canada Life puts Cheltenham’s key shopping centre up for sale: Canada Life has put

Cheltenham’s 205,000 sq ft Regent Arcade Shopping Centre up for sale for around £29m,

with JLL instructed to market the asset. The centre is the town’s main retail destination,

anchored by tenants including H&M, TK Maxx, Tiger, River Island, Pandora and

Decathlon in the former Debenhams unit.