$40M loan on Beverly Hills hotel in special servicing after Pomerancs miss maturity
Hotelier brothers Jason, Larry and Michael Pomeranc missed an August maturity date — and the $40 million loan on their Sixty Beverly Hills is now in special servicing, according to Morningstar Credit. The loan on the luxe Beverly Hills hotel, owned by the brothers’ Sixty Collective, has a $37 million balance. That comes out to more than $300,000 per key for the 118-room hotel on Wilshire Boulevard. The debt has been in and out of special servicing, but the Pomeranc brothers were able to extend the loan multiple times. July servicer commentary via Morningstar noted, the “borrower has advised that […]This article originally appeared on The Real Deal. Click here to read the full story.
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