Creditors Of Landmark Chicago Hotel End Loan Repayment Row
The deal allows Petra affiliate ALT Hotel LLC to retain control of the 25-story, 443-room Allerton Hotel on Chicago's Magnificent Mile, according to bankruptcy court filings. Petra affiliates held a $10 million junior loan on the property.
In exchange, DiamondRock, which had held a $69 million senior loan prior to the bankruptcy, will receive a $71 million note. Petra will...
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