SPRINGFIELD, MA— Investment-management firm David L. Babson & Co. here has reportedly syndicated the $399.5-million in financing it arranged back in September on a 35-property hotel portfolio for Sunstone Hotel Investors LLC. It was noted the 6,943-room portfolio is spread across eight states and encompasses Marriott-, Hilton-, InterContinental- and Starwood-branded hotels, including full-service, extended-stay and some limited-service properties. Co-investors in the loan are said to include GE Real Estate Capital and KBC Bank NV. The participants purportedly invested a total of $201 million in the senior portion of the loan, while Massachusetts Mutual Life Insurance Co. (Babson’s parent) reportedly retained a portion of the senior note as well as the entire subordinate portion of the loan. The transaction was painted as Babson’s largest single-borrower real-estate financing deal to date.
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