Ohana Real Estate Investors And Ellington Management Group Provide $104.9M Loan For NoMad Hotel/Mixed-use Property

The property involved in this closed transaction is a Hotel/Mixed-use located at 1170 Broadway & 10 West 28th Street in the NoMad market. The loan for this property was provided by Ohana Real Estate Investors, represented by Pierre Omidyar and Ellington Management Group. The landlords of this property are Yucaipa Cos. and Sydell Group. The loan amount for this transaction was $104,999,000.

Summary of Transaction Details

• Property Type: Hotel/Mixed-use
• Transaction Amount: $104,999,000
• Lender: Ohana Real Estate Investors - Pierre Omidyar & Ellington Management Group
• Landlord: Yucaipa Cos. & Sydell Group

Pierre Omidyar, the co-founder of eBay, served as the chairman of the company from 1998 to 2005. Forbes estimates his current net worth at $19.4 billion. Notably, Omidyar's Ohana Real Estate Investors previously sold the Montage Beverly Hills for $415 million in December 2019.