Arden Group wins foreclosure auction for El-Gamal’s Margaritaville Hotel
Arden Group won the long-awaited UCC foreclosure auction for Sharif El-Gamal’s Margaritaville Hotel. The lender used its existing debt to submit a credit bid of $1,000 to acquire an equity stake in the Times Square hotel, putting it on a path to control the property. Arden was the only bidder at the auction on Monday. […]
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