Category : Hotels

The Canopy Hotel, Engineered by Dresdner Robin, Wins Prestigious ULI Northern New Jersey Excellence Award
Hotels

The Canopy Hotel, Engineered by Dresdner Robin, Wins Prestigious ULI Northern New Jersey Excellence Award

REW
New Jersey-based land-use consultancy Dresdner Robin announced that its project, the Canopy Hotel, has won a ULI Northern New Jersey Excellence Award for best hospitality project. Award winners are recognized for transformational land-use developments, best practices and creative visioning. The firm provided surveying, civil engineering and landscape architectural design services for the complex, which opened in late...
Hempstead IDA gives preliminary okay to benefits to assist construction of proposed Nautical Mile Hotel in Freeport
Hotels

Hempstead IDA gives preliminary okay to benefits to assist construction of proposed Nautical Mile Hotel in Freeport

REW
Fred Parola, CEO of the Town of Hempstead Industrial Development Agency (IDA), said the agency has given preliminary approval to a package of economic development incentives that will assist a Syosset-based business group construct a new 100-room hotel and conference center on Freeport’s Nautical Mile. The IDA, meeting on Jan....
Marcus & Millichap Appoints National Director of Hospitality Division
Hotels

Marcus & Millichap Appoints National Director of Hospitality Division

REW
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the hiring of Biran Patel as senior vice president and national director of the firm’s hospitality division. Patel will be responsible for overseeing the firm’s hospitality division,...
JUNIPER HOLIDAY + HOME, ANNOUNCES PLANS FOR CONTINUED EXPANSION
Hotels

JUNIPER HOLIDAY + HOME, ANNOUNCES PLANS FOR CONTINUED EXPANSION

REW
  Juniper Holiday + Home, an upscale short-term vacation rental property owner and operator, announces plans to expand its portfolio of homes by the end of summer 2022. Founded in July 2020 during the height of the COVID-19 pandemic, Juniper Holiday + Home plans to approximately double its properties this year alone,...
Margaritaville Resort Times Square Named “Best New Hotel” in USA Today
FeaturedHotels

Margaritaville Resort Times Square Named “Best New Hotel” in USA Today

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Margaritaville Resort Times Square, developed and owned by real estate and investment firm Soho Properties, landed top honors as “Best New Hotel” on USA Today’s 10Best Readers’ Choice Awards. Nominated by a panel of industry experts and voted the winner by readers, the highly-anticipated resort in New York City opened to...
Mack funds Marx hotel recap in Hudson Yards
Deals & DealmakersDebt & EquityHotels

Mack funds Marx hotel recap in Hudson Yards

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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 Ackerman and senior vice president Shaya Sonnenschein. The loan will cover...
Cronheim secures loan for airport hotel
Debt & EquityHotels

Cronheim secures loan for airport hotel

REW
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 options. CHC worked on behalf of Frontier Development, a Washington DC-based hotel...
Debt funds emerge as hotel financing source
Debt & EquityHotels

Debt funds emerge as hotel financing source

REW
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 investment into global hotels hit US$49 billion in...
Debt & EquityHotels

MCR closes $300M hospitality fund

REW
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 select service and extended stay hotels throughout the country. “This important milestone reflects...