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Hotels

Mack funds Marx hotel recap in Hudson Yards

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 secures loan for airport hotel

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 emerge as hotel financing source

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 closes $300M hospitality 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...

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