J.P. Morgan Chase has provided the Belvedere Corporation with $72.5 million in commercial mortgage-backed securities debt to refinance its 561-key Hilton Cincinnati Netherland Plaza hotel in Cincinnati, Ohio, Commercial Observer has learned.
The five-year loan retires roughly $70 million in previous 12-month bridge financing provided by J.P. Morgan last fall, as CO previously reported. The bank declined to comment on the refinance or the loan’s eventual securitization.
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