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New York & Tri-State  + New York  + Hospitality  | 

Monarch Alternative Capital Expands Hospitality Portfolio Through Loan Purchases 

Monarch Alternative Capital has added two properties to its hospitality portfolio through the purchase of non-performing mortgage loans on the Hotel Felix in Chicago and the YOTEL San Francisco.  

The Hotel Felix is a 228-room boutique hotel located in the River North submarket of Chicago, while the YOTEL San Francisco is a newly converted 203-room “micro-hotel” located in the Mid-Market submarket of San Francisco. The firm subsequently took ownership of those two properties through a debt settlement.  

“As the opportunity set in the commercial real estate market continues to evolve, we have leveraged our restructuring expertise and deep relationships to access high-quality assets at significant discounts to the previous lenders’ bases through the credit markets,” said Ian Glastein, managing principal and co-head of real estate at Monarch.  


Inside The Story

Ian Glastein

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Financing