Oct. 4 (Bloomberg) -- Morgans Hotel Group Co. won extensions for loans backed by its Hudson New York hotel in Manhattan and the Mondrian Los Angeles after paying down a portion of the money owed on the two properties.
The debts now will expire in October 2011, the New York- based hotelier said. Morgans paid down $16 million of the Hudson loan and $17 million of the Mondrian debt, bringing the outstanding amount on the Hudson’s first mortgage to $201.2 million and the Mondrian’s remaining debt to $103.5 million.
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