LOS ANGELES, May 11, 2009 (BUSINESS WIRE) — Canyon Capital Realty Advisors (CCRA) and its affiliates including the Canyon Johnson Urban Funds (CJUF) announced today that real estate executive Richard Bosworth has joined the company as Senior Director with responsibility for Canyon’s hospitality holdings around the country. Bosworth, who brings nearly 30 years of experience to the position, will manage assets in the CCRA and CJUF portfolios.
“Richard’s strong experience in hotel operational management, investments and special servicing, combined with his ability to adapt to a changing market environment, brings significant value to our team as we actively seek new opportunities around the United States,” said Canyon Managing Partner Bobby Turner.
Since the mid-1990’s, Bosworth has been heavily involved in the bank workout process and managing non-performing loans, many of which were assets originated by failed S&Ls. After the travel industry downturn in 2001 and the subsequent illiquid capital markets for hospitality finance, Bosworth assisted the five top-rated Special Servicers with their non-performing hotel and casino loans, participating in over 30 lender workouts.
Immediately prior to joining the Canyon team, Bosworth was President and founder of the NTH Advisory Group, LLC, a development and advisory company specializing in the casino, hotel and restaurant industries.
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