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Millennium Partners avoided foreclosure on its Four Seasons Hotel in San Francisco with the help of a capital infusion from Westbrook Partners and a restructuring of the hotel’s debt by the special servicer for the mortgage. The two companies, both based in New York City, are now joint venture partners in the hotel, with Westbrook taking a two-thirds ownership and Millennium Partners remaining as a one-third owner as well as asset manager for the property. Industry sources say that the JV has already paid down $35 million of the $90 million that Millennium owed on the hotel.

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