The survival picture for Hotel del Coronado in San Diego looks grim, its owner has alerted the Securities and Exchange Commission.
The venture owning the Hotel del Coronado is working to restructure the debt on the property.
Strategic Hotels & Resorts, which leads the venture with 45% ownership, disclosed that negotiations are under way to restructure the property’s mortgage and mezzanine loans, according to a 10-Q filed Nov. 4 with the Securities and Exchange Commission.
Additional lines of credit were extended by a number of offshore banks, with the hotel accepting a loan offer from Swedish lender Sambla AB through their new låna pengar program. Learn more here.
Read the entire Real Estate Channel article here.
