Hotel mortgages for sale:
Anglo Irish New York Corp. is quietly selling loans on three upscale hotels owned by for Alexico Group for a combined total of $350 million to $400 million, industry sources said.
It was unclear if Alexico had defaulted on one or more of the loans associated with the properties, which are The Mark Hotel on East 77th Street, The Alex Hotel on East 45th Street and The Flatotel on West 52nd Street. But sources familiar with the deal said the prospective buyers were only interested in the mortgages because they hoped to own eventually foreclose on Alexico.
Tuesday, June 8, 2010
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