Owner of Chicago’s Allerton Hotel Files Chapter 11
From Chicago Real Estate Daily:
Noteholder DiamondRock Has Been Pursuing Foreclosure
The owner of the Allerton Hotel on Michigan Avenue has filed for bankruptcy protection, thwarting an investor's attempt to foreclose on a $69-million loan secured by the property. An affiliate of Petra Capital Management LLC, a New York-based hedge fund manager that took control of the Allerton last year, filed a Chapter 11 petition Thursday, saying the 443-room hotel at 701 N. Michigan Ave. will continue to operate as normal. Click here for the full story.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus
Most Recent
Career Center
| Enter Keyword(s):
Enter a City: Select a State: Select a Category:  |
|
