Lending picked back up this week with a major refinancing of a top hospitality property in New York: $155 million for the Lexington Hotel in Midtown Manhattan — financed by Hudson Bay Capital. There was also Franklin BSP Realty Trust lending $125 million for a four-building, single-tenant industrial portfolio across three states. Not to be outdone, GDS Brightstar, the lending arm of GDS Development Management, provided a $34 million bridge loan with Sabal Investment Holdings on a boutique office building in the Meatpacking District. Here are the rest of the deals.
| Loan Amount | Lender | Borrower | Address | Asset | Broker |
|---|---|---|---|---|---|
| $155 million | Hudson Bay Capital | Island Capital Group, MCR Hotels and Three Wall Capital | 511 Lexington Avenue; New York City | Hospitality | Walker & Dunlop’s Jordan Casella, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Christopher de Raet |
| $125 million | Franklin BSP Realty Trust | Fundrise | Four-building industrial portfolio; Phoenix, Las Vegas and Dallas/Fort Worth. | Industrial | Cushman & Wakefield’s Rob Rubano, Brian Share, Max Schafer and Ernesto Sanchez |
| $68 million | Forman Capital | Alta Development | River District 14; Miami | Multifamily | N/A |
| $56 million | BridgeInvest | Tara Capital | 2424 South Voss Road; Houston | Multifamily | N/A |
| $34 million | GDS Brightstar and Sabal Investment Holdings | G4 Capital Partners | 76 Eighth Avenue; New York City | Office | N/A |
Finance Deals of the Week reflect deals closed or announced from April 29 to May 3. Information on financings can be sent to editorial@commercialobserver.com.
