BH Properties Lands $253M Loan for NYC PortfolioBy
More than six months after acquiring ground leases for the land under three New York City limited service hotels with a total of 1,179 guestrooms, Los Angeles-based BH Properties has financed the portfolio with a $252.8 million mortgage and mezzanine facility secured by New York Life Real Estate Investors.
The financing obtained by New York Life Real Estate Investors was described as a cross-collateralized, 25-year facility…
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