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Istithmar in Mandarin Oriental Refinance Talks, Al-Khaleej Says

Feb. 28 (Bloomberg) -- Dubai’s Istithmar PJSC is in talks with a Chinese lender to refinance its $175 million mortgage on the Mandarin Oriental New York Hotel in Manhattan’s Time Warner Center, Al-Khaleej newspaper reported, citing unidentified people within Istithmar.

The newspaper did not name the Chinese lender. The investment firm, owned by Dubai’s government, bought the 248-room hotel for $340 million in 2006.

To contact the reporter on this story: Zainab Fattah in Dubai at zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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