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$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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.