MSD Capital Secures $46M Loan From Bank OZK For Queens Hotel Portfolio

A loan transaction has taken place in Queens, involving a hotel located at 144-02 135th Ave. The transaction was facilitated by Bank OZK, serving as the lender, and MSD Capital, acting as the borrower. The loan amount for this transaction was $46,000,000, and the loan type was Note-on-Note. The loan terms included financing for the construction of two new hotels, a 360-key Full Service Marriott, and a 182-key Residence Inn, resulting in a total of 542 keys.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $46,000,000
• Lender: Bank OZK
• Borrower: MSD Capital
• Brokers: Adam Hakim & James Murad - Meridian Capital Group
• Loan Type: Note-on-Note
• Loan Terms: Two new construction hotels including a 360-key Full Service Marriott & a 182-key Residence Inn (542-keys total)

The deal was handled by Adam Hakim and James Murad of the Meridian Capital Group, who served as the brokers for this transaction. Their expertise and representation were instrumental in bringing the lender and borrower together to successfully secure the loan for the construction of these hotels.