Hilton Times Square Owner Gives Property to Mortgage Lender

January 8, 2021

The owner of the Hilton Hotel in Times Square has given the keys to the hotel back to its mortgage holder.

The hotel’s owner, California-based REIT Sunstone Hotel Investors, surrendered the 44-story property to Torchlight Investors, the special servicer. The lender and the borrower signed a lease in lieu of foreclosure, which allows the hotel owner to hand the keys back to its lender, according to property records filed in December.

Torchlight and Sunstone did not immediately respond to requests for comment.

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