Investcorp Takes $40M Debt Stake In Times Square Hotel

Law360, New York (November 14, 2011, 1:46 PM EST) -- The U.S. real estate arm of Persian Gulf asset manager Investcorp has bought a $40 million mezzanine debt stake in a hotel in New York's Times Square, the firm announced Monday.

Investcorp purchased two performing mezzanine loans from private equity investor Fillmore Capital Partners, which has been a lender for the Paramount since its 2004 sale to Becker Ventures LLC, according to iCap Realty Advisors, which organized the financing on that sale.

Investcorp, based in Bahrain but with sizable U.S. corporate and real estate holdings, said...
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