Real Estate News

Park Hotels & Resorts Inc. Announces Cessation of Payment on $725 Million Non-Recourse CMBS Loan Secured By Two of Its San Francisco Hotels

TYSONS, Va., June 05, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that, starting in June, it ceased making payments toward the $725 million non-recourse CMBS loan which is scheduled to mature in November 2023, and is secured by two of its San Francisco hotels—the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco.

Greystone Arranges $287 Million Financing Package for Douglaston Development’s 456-Unit Mixed-Income Rental Development in Brooklyn, NY

NEW YORK, June 02, 2023 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced it has arranged $287 million in combined construction financing and preferred equity for Douglaston Development’s 1057 Atlantic Avenue, a 474,000-square-foot, 17-story, 456-unit mixed-income multifamily rental development in Brooklyn’s Bedford-Stuyvesant neighborhood.

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