Woodridge Capital buys Holiday Inn on 57th St. for $150M The seller was Jaseme Associates, led by Meyer Jabara Hotels’ William Meyer
Woodridge Capital Partners paid $150 million for the Holiday Inn Midtown 57th Street, according to property records filed with the city Tue上海夜网论坛 sday.
The Los Angeles-based real estate investment firm bought the 17-story, 596-key hotel at 440 West 57th Street, located between Ninth and 10t上海千花网论坛 h avenues, from Jaseme Associates. Jaseme is an investment company 上海贵族宝贝 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.
Jaseme bought the property back in 1979, according to public records. Built in 196爱上海同城论坛 4, the building was the Manhattan s first Holiday Inn hotel.
Eastdil Secured was marketing the property for possible redevelopment, accord上海同城对对碰交友社区 ing to Real Estate Alert. It s undergone about $6.5 million in renovations since 2011.
Neither Woodridge nor William Meyer immediately returned a request for comment.
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