NEW YORK CITY-Hampshire Hotels' The Dream Hotel in midtown Manhattan has been refinanced to the tune of $100 million by Ladder Capital.
Jay Stein, the COO of Hampshire Hotels, says the refinancing deal closed Feb. 19. Hampshire, the owner of the property had previously been delinquent on a $97.25-million loan attached to the property at 210 West 55th St. The refinancing means the 220-room hotel property is no longer in distress, according to The Real Deal.
Hampshire opened the hotel in 2004. The New York City-based hotelier owns the property through a ground lease but does not own the underlying land. See story in The Real Deal.
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