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Dream Hotel Group lands $56M Refi

LoanCore provided the debt

Dream Hotel Group’s CEO, Abid Butt for for Asia-Pacific, Middle East, and Africa.
(Credit: Dream Hotel Group)

Dream Hotel Group secured a $56 million loan from LoanCore Capital to refinance their Midtown portfolio. Properties include the Dream Hotel at 210 West 55th Street, a mixed-use residential building at 204 West 55th Street, and an office building at 200 West 55th Street.

Financing breakdown: The loan replaces a $55 million mortgage provided by Ladder Capital in 2013. LoanCore assumed $52.25 million in outstanding debt, and provided a $3.75 million gap mortgage, according to TRD.

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