Milford Plaza Hotel Buy Rests On $275M Morgan Stanley Loan

Law360, New York (March 25, 2013, 3:52 PM EDT) -- A Morgan Stanley mortgage affiliate lent $275 million to Deutsche Asset & Wealth Management's real estate arm and real estate investor David Werner for their joint purchase of the lease fee interest in Manhattan's Milford Plaza Hotel earlier this month, advisory firm Meridian Capital Group LLC said Monday.

Meridian and Eastdil Secured LLC negotiated the loan on behalf of the joint venture, which purchased the hotel's land earlier this month from Rockpoint Group and Highgate Holdings LP.

“In today's highly fluid CMBS marketplace, Morgan Stanley was...
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