Real Estate

Woodridge Capital buys Holiday Inn on 57th St. for $150M

therealdeal.comWoodridge Capital Partners paid $150 million for the Holiday Inn Midtown 57th Street, according to property records filed with the city Tuesday.

The Los Angeles-based real estate investment firm bought the 17-story, 596-key hotel at 440 West 57th Street, located between Ninth and 10th avenues, from Jaseme Associates. Jaseme is an investment company affiliated with William Meyer, the chairman and co-founder of hotel investment and management firm Meyer Jabara Hotels.

The buyer also secured a $90 million loan from Deutsche Bank to help fund the purchase, records show.

Categories: Real Estate

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