Shimmie Horn Of Triumph Hotels Secures $13.5M Refinance Loan For Bronx Property

The asset involved in this transaction is a special purpose property located at 781 East 142nd Street in the Mott Haven neighborhood of the Bronx. The building encompasses a total square footage of 27,400 and has a Borrower Special Feature (BSF) of 65,675.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $13,500,000
• Lender: Popular Bank
• Landlord: Shimmie Horn - Triumph Hotels
• Loan Type: Refinance
• Prior Debt: $11,100,000

The refinance was conducted by Triumph Hotels through their entity 781-3 East 142 LLC, allowing them to secure a new loan while replacing the previous debt held on the property.