Morgans Hotel Group mortgage loan forbearances extended to Oct. 12

By Caroline Salls

Pittsburgh, Sept. 10 - Morgans Hotel Group Co.'s forbearance agreements with the lenders holding the mortgage loans secured by the company's Hudson and Mondrian Los Angeles hotels have been extended to Oct. 12, according to a company news release.

Morgans said the forbearance agreements originally extended the maturities of the loans for 60 days to Sept. 12.

The extension will allow the company and its lenders to complete amendments to further extend the loans, which are comprised of a $217 million first mortgage secured by the Hudson and a $120.5 million first mortgage loan secured by the Mondrian Los Angeles.

Morgans is a New York-based hospitality company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.