^ I'm surprised they even mentioned tgat much, considering they haven't publicly commited to it. But I don't know howvthings work over there. They could come back next week with the full plans, even though they aren't commiting to making a decision so soon. Still though, it would be interesting to see what's floating around.
https://nation.com.pk/11-Oct-2020/my...rk?version=amp
Quote:
Roosevelt Hotel had acquired a loan of $105 million from JP Morgan, an American financier, at an interest rate of 5.05% with maturity in April 2021, according to some official documents seen by The Nation. Annual interest payment had been calculated at approximately $6 million. JP Morgan later sold its loan of worth $68.25 million to MSD PCOF Partners. The sale of the loan complicated the situation for Roosevelt Hotel due to certain reasons.
For the past several years, MSD has been expressing its desire to be a joint venture partner in the development of Roosevelt Hotel’s site, an official said. MSD may attempt to leverage its position in achieving the goal, the official sources said adding that it also holds air rights in the vicinity of Roosevelt.
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MSD is currently developing the Commodore/Grand Hyatt into a mixed-use tower that will include a smaller Grand Hyatt. Terminal City is starting to reach its full potential.
But we are looking Madison becoming another street of supertall buildings.
