Ty Warner Loans Get Reprieve

Four Hotels: Ty Warner was hoping for a one-year extension on his $345 million loan package covering four luxury hotels, but he only got a 90-day extension, according to a national financial publication.

The loan involves the New York Biltmore, Four Seasons Biltmore, San Ysidro Ranch, and Las Ventanas al Paraiso in Cabo San Lucas, according to Real Estate and Investment newsweekly.

“The loan matured in January and industry participants have been waiting to see what would happen,” the publication said this week. “The new maturity date is believed to be sometime in May.”