Holiday Inn 57th Street

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

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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

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h avenues, from Jaseme Associates. Jaseme is an investment company 上海贵族宝贝

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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

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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

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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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