Goldman Sachs buys loan on Slatkin brothers’ luxe Santa Monica hotels after $280M sent to special
Goldman Sachs has purchased the loan on the Slatkin brothers’ luxe Casa del Mar and Shutters on the Beach, Thomas Slatkin told The Real Deal. The hotelier did not disclose terms. The $280 million adjustable-rate commercial mortgage-backed securities loan on the beachfront Santa Monica hotels was sent to special servicing over the summer. Special servicer commentary from Morningstar Credit said the brothers were “unable to meet the maturity extension conditions,” in July. Slatkin said, it was over “a disagreement regarding one of the loan’s extension provisions. We believe the special servicer has taken an unnecessarily aggressive position.” On top of […]This article originally appeared on The Real Deal. Click here to read the full story.
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