Last Updated: August 25, 2010 ET

Owners of Las Vegas Hilton Reach Deal with Lenders

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LAS VEGAS- Whitehall Street Global Real Estate Limited Partnership and Colony Capital LLC, owners of the 2,955-room Las Vegas Hilton, have signed a deal to extend the due date of the hotel's $225-million mortgage loan to late 2012 with Gramercy Capital Corp. and Goldman Sachs Group Inc., the lenders.

The owners agreed to put up $22 million for paying past-due interest and other fees and in return, the lenders will obtain the aforementioned fees and escalating interest rates. For the full story, go to Wall Street Journal.

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Categories: West, Hotels, Capital Markets, Distressed Assets, Las Vegas

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