Aju Hotels & Resorts acquires two Midtown hotels

Aju Hotels & Resorts has secured an $88 million loan from Shinhan Bank to close on its acquisition of two Midtown hotels for $137.6 million, according to public property records cited by CO. The Korean firm paid $85.5 million for 52 West 36th Street (79,000 SF), and $51.2 million for 30 West 31st Street (60,270 SF).

• Worth Noting: The two Hyatt-branded lodgings were previously owned by Chesapeake Lodging Trust before the REIT was acquired by Park Hotels & Resorts. The properties contain a total of 307 rooms.