McSam Hotel Group Acquires Hotel Dev Site In Times Square/Theatre District For $250M Loan Amount From @S3Capital
150 West 48th Street
Summary
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.
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