City: New Orleans
Le Pavillon Hotel
Le Pavillon served as collateral for a $36.4 million loan that was securitized through Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR13, which doesn't come due until August 2016. It's also locked out from prepayment until then. But Ashford said it ...
Ashford Pays $62.5Mln for Le Pavillon Hotel in New Orleans
Ashford Hospitality Trust Inc. has paid $62.5 million for the 226-room Le Pavillon Hotel in New Orleans. The Dallas hotel REIT bought the property from a venture led by American Financial Group, parent of Great American Insurance Group of Cincinnati. ...
202-Room Hotel in New Orleans Sold
Dallas CityBizList Omni Hotel & Resorts has acquired the 202-room Wyndham Riverfront New Orleans hotel. The seller and purchase price were not disclosed. The hotel, which the buyer has rebranded the Omni Riverfront Hotel, includes 4,000 square feet of meeting ...
New Orleans’ Astor Crowne Plaza Gets $83Mln CMBS Loan
Commercial Real Estate Direct Staff Report Morgan Stanley has provided an $83 million mortgage against the Astor Crowne Plaza, a 693-room hotel in New Orleans that was acquired by Starwood Capital Group for $116.5 million, or $168,110/room. The loan is ...
Esplanade at City Park/3443 Esplanade Ave.
97 percent leased. The buyer financed the acquisition with a $43.5 million mortgage provided by Deutsche Bank, which is including the 10-year loan in an upcoming CMBS transaction, COMM, 2013-CCRE13. The loan requires only interest payments for the first five ...
Starwood Pays $116.6Mln for New Orleans Hotel; CMBS Holders Win Big
Starwood Capital Group is said to have purchased the Astor Crowne Plaza hotel in New Orleans for $116.6 million, or about $168,254/room. The Greenwich, Conn., investment manager bought the 693-room property from LNR Partners, special servicer for its $73.4 million ...
NorthStar Venture Pays $53.5Mln for New Orleans Apartments
A venture of Priderock Capital Partners and NorthStar Real Estate Income Trust Inc. has paid $53.5 million, or $121,592/unit, for the Esplanade at City Park, a 440-unit apartment property in New Orleans. The venture purchased the 40-year-old property, at 3443 ...
Capital One Lends $100Mln Against La. Office Complex
Capital One Bank has provided a $100 million loan against the Lakeway Center, a 1.2 million-square-foot office complex in the New Orleans suburb of Metairie, La. The 10-year loan was used by the Feil Organization to fund its purchase of ...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
