109Co Acquires $44M Loan Secured By Fortuna Realty Group's Hotel At 127 West 28th Street

The asset involved in the transaction is a loan secured by Fortuna Realty Group’s hotel located at 127 West 28th Street in Chelsea, Manhattan. The loan was sold for a total value of $44,000,000.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $44,000,000
• Buyer: 109Co
• Seller: Morgan Stanley
• Address: 127 West 28th Street
• Market: Chelsea, Manhattan

109Co acquired the loan through 127w28 Hotel Noteholder LLC, and the loan is tied to a pending $44 million foreclosure case involving the property. Morgan Stanley was the seller in this transaction.