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BH Properties Lands $253M Loan for NYC Portfolio | Tony Seruga
May
24

BH Properties Lands $253M Loan for NYC Portfolio

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New York Life Real Estate Investors provided a 25-year mortgage and mezzanine facility for three Manhattan hotels totaling 1,179 guestrooms.

More than six months after acquiring ground leases for the land under three New York City limited service hotels with a total of 1,179 guestrooms, Los Angeles-based BH Properties has financed the portfolio with a $252.8 million mortgage and mezzanine facility secured by New York Life Real Estate Investors.

The financing obtained by New York Life Real Estate Investors was described as a cross-collateralized, 25-year facility…

BH Properties Lands $253M Loan for NYC Portfolio

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