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Magna Hospitality Group Secures $150 Million Refinance Loan For Hyatt Hotel In Manhattan
FINANCED
$150,000,000
New York
See Similar DealsHotel
Financed 06/11/2025
FINANCED
Magna Hospitality Group Secures $150 Million Refinance Loan For Hyatt Hotel In Manhattan
350 West 39th Street
See Similar DealsHotel
Financed 06/11/2025
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 350 West 39th Street in the Garment District of Manhattan. The property is part of the Hyatt brand and was refinanced for a total amount of $150 million.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $150,000,000
- Address: 350 West 39th Street
- Market: Garment District, Manhattan
- Lender: Mike Acierno & Kirk Adamson - KSL Capital Partners
- Landlord: Robert A Indeglia Jr - Magna Hospitality Group
- Loan Type: Refinance
This refinancing was secured by Magna Hospitality Group through its subsidiary, NY 39th Street LLC, highlighting the collaboration between the company and KSL Capital Partners in this financial arrangement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$150,000,000.00
Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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