Highgate's Arash Azarbarzin Secures $116.6M Refinance Loan For NoMad Properties From Sixth Street Partners

The asset involved in this transaction includes a hotel and a multifamily property located at 420 Park Avenue South and 41 East 28th Street in the NoMad neighborhood of Manhattan. The properties encompass the Royalton Park Avenue hotel and an 18-unit residential building, which have been refinanced as part of this transaction.

Summary of transaction details:

• Property Type: Hotel & Multifamily
• Transaction Amount: $116,600,000
• Lender: Sixth Street Partners
• Landlord: Arash Azarbarzin - Highgate
• Loan Type: Refinance
• Closing Date: February 4, 2026
• Recording Date: February 17, 2026

Highgate Hotels and BGO’s Tga II, LLC are the entities involved in the refinancing of the properties with Sixth Street Partners’ Beacon Finance 4, LLC, reflecting a significant financial repositioning in the NoMad Manhattan market.