Buildings For Sale:Korean lender Shinhan Investment wants to sell its $60 million mezzanine loan on the Public Hotel at 215 Chrystie Street in the Lower East Side. The 367-room hotel has been closed since late March.
Cindat USA is looking to sell a preferred equity stake in a portfolio of seven Manhattan hotels it bought in 2016 as part of a joint-venture with Hersha Hospitality Trust. The company is eyeing pricing that would value the 1,087-room portfolio in the low-$400 million range.
Buildings Sold:Highgate’s deal to purchase a $2.8 billion portfolio of hotels from Colony Capital will put the company into the upper ranks of the nation’s largest hotel owners.
Ashford Hospitality Trust Inc. has sold its 310-room hotel at 60 West 37th Street to Magna Hospitality Group for $115 million. That’s a 41% discount to the $195 million the real estate investment trust paid for the Embassy Suites hotel 18 months ago.