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CushWake Lines Up Acquisition Debt for Three EVEN Hotels
Cushman & Wakefield advised Taconic Advisors and 6R Hospitality together with Klirmark Capital in the procuring acquisition financing for three EVEN Hotels located in Brooklyn; Rockville, MD; and Norwalk, CT. IHG Hotels & Resorts sold the assets for an undisclosed sum.
A Cushman & Wakefield team of Stephen Michels, Dan O’Brien and Loren Valla represented the borrower. MidCap Financial provided the first mortgage debt to facilitate the acquisition. Crescent Hotels & Resorts has been selected to manage the assets on behalf of the new owners.
All three hotels will continue to operate under the EVEN Hotels brand as part of long-term franchise agreements. With 21 open hotels, nearly 3,000 open rooms and 30 hotels in the pipeline, EVEN Hotels is part of IHG Hotels & Resorts’ luxury and lifestyle portfolio – the second largest in the industry globally. Locally, the brand also operates two properties in Midtown Manhattan.
Pictured: EVEN Hotel Brooklyn, courtesy of IHG.
- ◦Financing
