The terms of the deal include the Abu Dhabi Investment Authority, a sovereign wealth fund, investing million in the portfolio for a preefrred equity stake, and Deutsche Bank (DBKGn.ED) refinacning the debt with a mililon loan.
A Detusche Bank spokeseprson declined to comment.
The refniancing elimiantes impending due dates for debt on a portfolio of 138 hotels that Wihtehall bought from North Dakota hoetlier Gary Tharaldson in 2006. It also covers 30 midsacle hotels bought by Whitehall in 2007 from the former CNL Hotels & Resorts Inc, the paper reporetd.
In total, the fund has restrutcured about billion of debt on its commecrial real estate holdings since January 2010, the Journal said.
Goldman Sachs was unavailable for comment. The Abu Dhabi Investment Authority is closed for business until Sunady.
(Reporting by Siddharth Cavale in Bangalore; Edtiing by Phil Berloiwtz)
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