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Trinity Hospitality Group offers Government of Pakistan $600 million USD For the Roosevelt Hotel to avoid foreclosure

Trinity Hospitality Group led by Shahal M Khan offers to bail out the Government of Pakistan by buying to the debt from MSD Partners

BETHESDA, MD, USA, August 12, 2020 / -- Trinity Hospitality Group LLC (THG) a Hospitality Investment Group headed by Shahal M. Khan, made an offer today to the Government of Pakistan to buy the Roosevelt Hotel located at 45th Street and Madison Avenue in order to help the government avoid a possible foreclosure and total loss of value from the property.

As per news articles that have appeared on August the 10th, MSD capital is seeking to collect on its debt through a foreclosure process as the senior loan on the property is in default. THG has submitted an offer today to the government of Pakistan expressing its interest to payoff the loan as well as allow the government to roll its sale value contribution into an equity participation in the hotel as a reconstruction project.

“Our offer we believe is a significant and simple proposal, we had in good faith forwarded this agreement to the Government of Pakistan, now we hope we can move ahead to close it quickly in these difficult times the people of Pakistan should not be carrying this burden” was stated by Shahal Khan, Chairman/CEO of THG.

Mr. Shahal Khan spent three years and a significant amount of resources on closing the Plaza Hotel transaction, which was later sold to the Qatari Sovereign Wealth Fund, thus Trinity has the experience and capability to close this transaction quickly.

AM Khan
Trinity Hospitality Group
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