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NEW YORK CITY-Ian Schrager’s Morgans Hotel Group has received $580 million in floating rate financing on its hotel assets around the country that total 1,516 keys. Those assets include the Hudson, Royalton and Morgans hotels here and the Delano in Miami Beach and the Mondrian in West Hollywood.

Carlton Advisory Services’ arranged the financing. Chairman Howard L. Michaels worked with Brendan Sullivan, John Bralower and Kenneth Herzberg on the transactions. Michaels accessed Wachovia and Hypo Bank to provide the funds.

Last year, to lower costs and extend the maturing dates up to five years, Morgans—formerly known as Ian Schrager Hotels–completed a $475-million recapitalization of all third-party corporate debt secured through the properties. At that time, Schrager said the financing was the last step in a program to “strengthen the finances and foundation” of the company. Carlton’s Hospitality Group, formalized early last year, has either closed or is presently transacting more than $3 billion in exclusive hotel assignments.

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