ST. LOUIS — The owner of the Hyatt Regency St. Louis at the Arch has less than two weeks to dodge a looming payoff deadline for $93 million in debt secured by the 910-room downtown hotel, according to loan servicer reports.
The owner of the 910-room Hyatt Regency St. Louis is seeking to rework loans as it faces "imminent default" on a $93 million debt stack set to mature in the first week of November. The $93.4 million in debt, secured by Arch Hotel Project Owner LLC, was transferred earlier this month to a process for troubled loans, known as special servicing.
The loans’ collateral is the hotel property at 315 Chestnut St. Ownership of the hotel is tied to Newport Beach, California-based Clearview Capital, according to the company’s website. Clearview Capital didn't immediately respond to a request for comment.
“Files are currently under review to determine workout strategies,” according to the loan notes, which said that the loans are “pari passu,” a term that means on equal footing.
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