Windsor Capital Group has secured a five-year $165 million loan from Starwood Property Trust, The Wall Street Journal reports. The Patrick Nesbitt-controlled company seeks to use the proceeds to repay a delinquent loan held by JonathanEilian, whose Atrium Hotels had scheduled a foreclosure auction for 18 hotels owned by Nesbitt.
Nesbitt used the $74 million of the Starwood loan and $22 million from the sale of an apartment complex in California to pay off Eilian’s loan. Eilian had acquired the mezzanine loan on Nesbitt’s hotels in January from Goldman Sachs.
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