
$500M Refi for Trio of Prominent Hotels in NY, Miami, D.C.
Three prominent hotels totaling 1,049 rooms in New York, Miami and Washington, D.C. have been refinanced for $503 million by Qatar-based Al Rayyan Tourism Investment Company (ARTIC). The three floating-rate loans were placed with Mack Real Estate Credit Strategies. Each loan carries a four-year term with one one-year extension.
The deals included:
- a $290 million loan for The Manhattan at Times Square Hotel, a 685-room, 22-story property at 790 7th Ave. in New York that was built in 1952
- a $132 million loan for the St. Regis Bal Harbour Resort (pictured), a 27-story luxury hotel with 192 hotel guest rooms and 24 condo-hotel units in Miami
- an $81 million loan for the St. Regis Washington, D.C,. a 172-room luxury hotel that was originally constructed in 1926 as the Carlton
HFF’s debt placement team included Daniel C. Peek, Danny Kaufman, Christopher Peck, Jeff Bucaro, Scott Wadler, Chris Hew and Nicole Aguiar.
For comments, questions or concerns, please contact Dennis Kaiser