Real Estate Weekly
Image default
Debt & Equity

CUR antes up $30M for the Roger Smith Hotel

501 Lexington

CUR Capital LLC, the lending arm of New York City based City Urban Realty, through an affiliate entity, has

provided a $30 million loan collateralized by The Roger Smith Hotel in Midtown Manhattan.

The 17-story 93,000 s/f hotel, located at 501 Lexington Avenue at the corner of East 47th Street, contains 134 guest rooms, ground floor retail and event space.

The borrowers required capital to pay off a maturing loan, cover closing costs associated with the transaction and provide fresh capital to continue to execute their business plan repositioning the asset into a world-class destination for their guests.

City Urban Realty, headed by Michael Alvandi, is a privately held real estate investment company dedicated to commercial real estate equity and debt opportunities through its lending division CUR Capital LLC.

(Visited 1 times, 3 visits today)

Related posts

New York Outer Boroughs industrial portfolio refinanced with $60.8M loan

REW

JLL arranges $230M refinancing for new Lionsgate Studios in Yonkers

REW

CBRE Advises on $1.7B Portfolio Recapitalization and Debt Financing of Eight Inpatient Hospitals in Massachusetts

REW