Christmas miracle? Victor Coleman’s real estate investment trust, where losses are ballooning, made two early December announcements: Jon Bortz became a board member, and the company sold a Los Angeles office campus to tenant Riot Games at a price that permits it to repay the commercial mortgage-backed securities debt connected to the real estate. Bortz, chairman and chief executive of Pebblebrook Hotel Trust, replaced Jonathan Glaser on the board. Bortz founded the hotel REIT and added LaSalle Hotel Properties to Pebblebrook’s holdings after a spirited bidding war with Blackstone back in pre-pandemic days. Bortz saw total compensation of $7.4 million […]
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