Maheshchand Ratanji Refinances Hotel At 1122 Southern Boulevard Bronx With $15 Million Loan

The property asset involved in this transaction is a hotel located at 1122 Southern Boulevard in East Morrisania, Bronx. The hotel encompasses a total square footage of 33,101 and has been refinanced for a loan amount of $15,000,000, designated for rehabilitation purposes.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $15,000,000
• Loan Type: Rehabilitation
• Lender: Melody Collins - State Bank of Texas
• Landlord: Maheshchand Ratanji
• Closing Date: July 16, 2024

Maheshchand Ratanji, through Southern Blvd Hotel LLC, is the landlord involved in refinancing the hotel. The transaction was facilitated by lender Melody Collins from State Bank of Texas, highlighting the financial partnership in this deal.