Term Sheet: Kennedy Wilson takes on PacWest’s property team; Starwood defaults on $212m Atlanta office tower loan; Deutsche Bank and Morgan Stanley’s Hawaii CMBS

PacWest Bank’s commercial real estate team left to join Kennedy Wilson following the investment manager's May acquisition of the bank's construction loan portfolio; Barry Sternlicht's Starwood defaults on $212 million loan linked to Atlanta office tower as sector's financing headwinds persist; Morgan Stanley and Deutsche Bank launch a $515 million CMBS deal for Hawaii resort owned by Trinity and Oaktree; and more in today’s Term Sheet, exclusively for our valued subscribers.