Westin Palo Alto Hotel owner snags $83 mln loan from Lone Star

LStar Capital, Lone Star Funds' credit affiliate, has provided an $83 million loan to Clement Chen, principal owner of The Westin Palo Alto Hotel. Law firm Davis Wright Tremain advised Chen on the transaction. The Westin Palo Alto is owned by an affiliate of Chen's Pacific Hotel Management LLC, which runs eight properties in California including the Silicon Valley-based luxury hotel The Clement Hotel.

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