Fontainebleau owners near loan restructuring deal

The owners of the the Fontainebleau hotel are said to be nearing an agreement with lenders on the restructuring of a $620 million construction loan on the landmark hotel in Miami Beach, Fla. Under the new loan, owners Dubai World and Turnberry Ltd. would contribute $100 million of the new equity, while the lender group would pardon previous defaults and extend the loan by four years to 2016.

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