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: Texas Lawyer Blog

Best Headline:

By mcbride

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NY Times gets the award for today?s best headline: ?Dubai Forced to Check Out of W Hotel.?  The article covers the news that the state investment company Dubai World has lost its first large asset, the W Hotel in New York.  The buyer at foreclosure was a mezzanine lender with a 2 million dollar loan on the property.  It will have to keep the senior lenders, which currently are owed 97 million, current once it owns the hotel. 

 It paid 282 million for the property in 2006, according to the linked article.  Here is a link: http://dealbook.blogs.nytimes.com/2009/12/09/dubai-forced-to-check-out-of-w-hotel/

 Michael

Full post as published by Texas Lawyer Blog on December 09, 2009 (boomark / email).

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