A hotel development site located at 150 West 48th Street in Times Square/Theatre District has been acquired and is set for construction. The property is owned by McSam Hotel Group while the loan for the acquisition and construction is provided by @S3Capital. The total loan amount is $250,000,000, consisting of $210M as the first lien and $40M as mezzanine financing. The planned development includes a 1,043-key hotel.

Summary of transaction details:

• Property Type: Hotel Dev Site
• Transaction Amount: $250,000,000
• Address: 150 West 48th Street
• Market: Times Square/Theatre District
• Lender: @S3Capital
• Landlord: McSam Hotel Group
• Type: Acquisition & Construction
• Broker: Emanuel Westfried

Emanuel Westfried, representing the buyer/seller/landlord/tenant (TBD), played a key role in facilitating this transaction. The collaboration between McSam Hotel Group, @S3Capital, and their respective representatives is set to bring this hotel development project to fruition at 150 West 48th Street in the vibrant Times Square/Theatre District.