The Blackstone Group’s mortgage arm provided Highgate Hotels with nearly $250 million to finance its acquisition of the Park Central Hotel. Blackstone Mortgage Trust issued three loans totaling $247.57 million, property records filed with the city Wednesday show. Records list the purchase price at $366.17 million. Representatives for Highgate and Blackstone couldn’t be immediately reached for comment. Pebblebrook Hotel Trust sold the 934-key Park Central Hotel at 870 Seventh Avenue late last month as part […]
source https://therealdeal.com/2018/12/12/blackstone-lends-highgate-hotels-nearly-250m-for-park-central-hotel-buy/
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