Lender ordered to fork over $51M to buy back loan at Houston hotel

  • 9/13/2024

|

Houston Business Journal

|

Paywall icon
• Additional Filters-Subcategory:
• Additional Filters-Tags:
• Company:

A New York judge has ordered the mortgage lender for the Aloft hotel near the Galleria to pay nearly $51 million to repurchase the hotel’s long-delinquent loan, all while the Aloft’s receiver works to stabilize its finances.

Aloft Houston by the Galleria’s loan servicer is now seeking additional financial information from its owners to determine a course of action, given that the hotel's ownership still had a $30.8 million loan balance as of February.

The Levine Organization
Lawrence Levine | President/CEO
Marriott (Nasdaq: MAR)
Karen Finberg | Chief Franchise Officer

Additional Filters

Subcategory
Tags