Dubai’s Istithmar PJSC is in talks with a Chinese lender to refinance its $175 million mortgage on the Mandarin Oriental New York Hotel in Manhattan’s Time Warner Center, Al-Khaleej newspaper reported, citing unidentified people within Istithmar.
The newspaper did not name the Chinese lender. The investment firm, owned by Dubai’s government, bought the 248- room hotel for $340 million in 2006.
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