Ladder Capital, the commercial real estate finance company, has provided $100 million to refinance the formerly distressed Dream Hotel in Midtown, The Real Deal has learned.
Jay Stein, the COO of Hampshire Hotels, which owns the property, said the refinancing deal closed Feb. 19. Hampshire had previously been delinquent on a $97.25 million loan attached to the property at 210 West 55th Street. The refinancing means the property is no longer in distress. [more]