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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.

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