Goldman Sachs Group's
The terms of the deal include the Abu Dhabi Investment Authority, a sovereign wealth fund, investing $475 million in the portfolio for a preferred equity stake, and Deutsche Bank
A Deutsche Bank spokesperson declined to comment.
The refinancing eliminates impending due dates for debt on a portfolio of 138 hotels that Whitehall bought from North Dakota hotelier Gary Tharaldson in 2006. It also covers 30 midscale hotels bought by Whitehall in 2007 from the former CNL Hotels & Resorts Inc, the paper reported.
In total, the fund has restructured about $18 billion of debt on its commercial 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 Sunday.
(Reporting by Siddharth Cavale in Bangalore; Editing by Phil Berlowitz)