Magna Hospitality Group has closed on its buy of Sam Chang’s newly built hotel in the Garment District. Sam Chang’s McSam Hotel Group sold the property for $274.3 million, according to property records filed Friday. The parties were reported to have entered contract last month. Deutsche Bank provided a $185 million refinanced loan to buyer Magna Hospitality Group, headed by CEO Robert Indeglia. The lender declined to comment. Chang and Rhode Island-based Magna Hospitality did not […]
source https://therealdeal.com/2019/03/29/magna-hospitality-picks-up-sam-changs-garment-district-hotel-for-274m/
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