Meridian Capital Group arranged $88 million in financing for a Marriot hotel site in Hudson Yards on behalf of Marx Development Group (MDG). The 24-month loan, provided by Mack Real Estate Credit Strategies, was negotiated by managing director Shaya...
Cronheim Hotel Capital (CHC) has secured financing for the acquisition and repositioning of the Westin at BWI Airport. The non-recourse bridge loan funded 72 percent of the total acquisition costs for a three-year term with two 1-year extension...
Debt funds are emerging as a major source of financing for hotels in the U.S. The sector is taking prominence as other lenders with significant existing exposure to hospitality, such as banks, become more risk averse late into the cycle. Debt fund...
MCR, the seventh largest hotel owner-operator in the United States, has closed a $300 million fund that should give it $1 billion in purchasing capacity. The MCR Hospitality Fund LP targets investments in institutional-quality Marriott and Hilton...
A New Jersey developer has acquired a vacant lot in East Williamsburg where he plans to build a 92-key hotel. Nehalkumar Gandhi purchased a 99-year ground lease at 187 Cook Street for $1.3 million from Loketch Group and Joyland Group. The brand of...
