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New York, July 26, 2021 /PRNewswire/ – MSD Partners, LP and Lionheart Strategic Management LLC (“Lionheart”) today announced the closure of approximately 130 million USD Provide financing to Lightstone Group to take advantage of the infrastructure of Lightstone’s Moxy Hotel in the Lower East Side Manhattan.
The project is a 16-storey, 303-room hotel property with a total area of approximately 127,000 square feet. It will include multiple dining venues and will be managed by Dao Hotel Group. Lightstone’s Moxy hotel in the Lower East Side will be the fourth Moxy project developed by Lightstone New York City.
Financing includes 90 million USD Senior loans provided by MSD Partners, LP, and US$40 million Lionheart provides mezzanine loans through its current credit facility, Lionheart Real Estate Credit Strategies LLC.
“This transaction demonstrates our commitment to resilience and recovery New York City And our confidence in its tourism and hospitality industry,” Winston Fisher, Lionheart Chairman. “With Lightstone’s proven track record in the successful development of Moxy, New York Nationwide, we believe that the project will benefit from its superior geographical location and be able to make full use of our…
The full story on Benzinga.com
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