Copford Capital Management Secures $25.5M Refinance Loan From John Hancock Life Insurance For Hotel

The asset involved in this transaction is a hotel located at 307-311 West 37th Street in the Garment District of Manhattan. The property encompasses a total square footage of 102,824. The transaction pertains to a refinancing loan amounting to $25,500,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $25,500,000
• Loan Type: Refinance
• Lender: John Hancock Life Insurance Company
• Landlord: Navin C. Dimond - Copford Capital Management
• Prior Loan: $25,000,000 Nationwide loan
• Ownership Entity: SBCO-NYC Owner LLC

This refinancing transaction was executed by Copford Capital Management, a Stonebridge affiliate, which facilitated the loan from John Hancock Life Insurance Company. The deal serves to replace an existing loan held with Nationwide, enhancing the financial structure of the fee interest under the Courtyard by Marriott New York Manhattan/Times Square West.