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Katara Hospitality takes over Dream Downtown's $125M ground lease

Posted On: Jun 20, 2021   |   Posted By: The Real Deal New York

Katara Hospitality has taken over the ground lease of the Dream Downtown hotel in a deal valued at $125 million, according to property records. The transaction resulted from an apparent default by Subrata Roy's Sahara Group on an $80 million loan which Katara owned - and was secured by a leasehold on the hotel at 355 West 16th Street in Chelsea, records show. Katara, a subsidiary of Qatar's sovereign wealth fund, granted Sahara forbearance on

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