Aspen Hospitality, owner of Colorado's Little Nell Hotel, wants to bring its luxury hotel brand to 10 floors of vacant office space at the Manhattan icon.
A loan on a hotel portfolio of £519M has been reduced to £200M.
After a lengthy saga that wound up with RFR Holding's eviction from the Gramercy Park Hotel, owner-operator MCR Hotels signed a ground lease for the property.
Arden Group provided the $57M loan piece in 2021 for the hotel.
Interest rates are hammering transaction volume, and a new tax in Los Angeles is keeping deals down.
The firm, owned by Israeli billionaire Eyal Ofer, bought the $115M mortgage on the property in 2021.
Beyoncé and Taylor Swift had a significant impact on Houston's hotel occupancy and average daily rate when they brought their tours through the city.
The purchase of The Shelbourne Hotel was the 10th largest in Europe.
Christy Reuter, partner at Blank Rome and chair of its Hospitality Practice, discusses hotels' strategic partnerships and considerations for development.
Bayside Yarmouth LLC acquired the Bayside Resort Hotel in West Yarmouth for $10.7M, plus the rest of the top transactions this week in Greater Boston CRE.
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