• Morgans secures Mondrian SoHo financing

Morgans Hotel Group has acquired the money needed to complete the Mondrian in SoHo, New York, through additional funding from its joint venture partner, Cape Advisors, and extending its loan maturity with its debt provider.

The opening date for the hotel has been pushed back from November to January. Morgans has a 10-year management contract with two 10-year extension options to operate the hotel, which will be its third Mondrian.

See the full release here:
http://www.prnewswire.com/news-releases/morgans-hotel-group-announces-additional-funding-to-complete-development-of-mondrian-in-soho-99789624.html

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