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Morgans Gets Extra Time to Pay Loans

Sep 12, 2010 8:54 AM

From BloombergBusinessWeek:

Lenders Agree on Extension to Oct. 12

Boutique hotel operator Morgans Hotel Group Co. said Friday lenders have again agreed to give it more time to pay back $377.5 million in loans secured by two hotels. The company owes $217 million on a first mortgage secured by the Hudson Hotel in New York and $120.5 million on a first mortgage secured by the Mondrian Los Angeles. Click here for the full story

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