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Allegria Hotel in Long Beach
Allegria Hotel in Long Beach sells for $25 million By: David Winzelberg May 7, 2021 Comments Off on Allegria Hotel in Long Beach sells for $25 million
Linchris Capital Partners, a Plymouth, Mass.-based real estate investment firm, has closed on its purchase of the Allegria Hotel in Long Beach.
The price was not disclosed, though real estate sources estimate it was about $25 million.
The seller, Manhattan-based Stabilis Capital Management, was the hotel’s lender and purchased it a bankruptcy auction in July 2016 for $27.4 million. Stabilis was the successor to original mortgagee Brooklyn Federal Savings, which held a $36 million note on the Allegria.