Magna Hospitality Group Secures $112.5 Million Refinance Loan For Hotel In Chelsea Manhattan

The property asset involved in this transaction is a hotel building located at 140 West 28th Street in Chelsea, Manhattan. The asset encompasses a total of 175,314 square feet and has an associated value of $112.5 million due to its refinancing loan. Magna Hospitality Group acquired this property in 2020 for $147.4 million and it previously carried debt from Apollo Global Management while generating annual revenue of $48.2 million.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $112,500,000
• Lender: KSL Capital Partners
• Landlord: Robert Indeglia - Magna Hospitality Group

This transaction involves key individuals and companies such as Robert Indeglia, representing Magna Hospitality Group, which secured the refinancing loan for the hotel. The lender for this deal, KSL Capital Partners, played a critical role in facilitating the financial aspect of the transaction.